In addition, Silver Wheaton will pay Vale the lesser of $400 per ounce (plus a 1% annual inflation adjustment from 2017) or the prevailing market price for gold delivered to it, which is the same as the terms of the previous agreement. The signing of the additional streaming agreement with Silver Wheaton is a part of Vale's ongoing response to an environment of low commodity prices, particularly those of iron ore. Thus, Vale's streaming agreement with Silver Wheaton, for gold produced at the Salobo mine, fits in well with the company's ongoing response to the subdued commodity pricing environment.