VANCOUVER, BC, Sept. 16,
2024 /CNW/ - Wheaton Precious Metals™ Corp.
("Wheaton" or the "Company") is pleased to announce the launch of
the inaugural Future of Mining Challenge, which will award
US$1 million to a winning venture to
advance their technology. Given Wheaton's diversified global
portfolio, the Company is committed to advancing the mining
industry's sustainability efforts. This initiative supports
innovative technologies aimed at minimizing environmental impacts,
improving efficiencies, and contributing to climate solutions,
while ensuring key resources are responsibly available for future
generations.
"Mining is integral to every facet of our daily lives, providing
the essential materials that are needed for our society," said
Randy Smallwood, President &
Chief Executive Officer of Wheaton. "From the metals used and found
in our infrastructure and technology, to those needed for a
transition to a low-carbon economy, we continue to rely on the
resources from the mining industry. It is critical that we foster
innovation and collaboration to improve the future of mining, with
a goal of making current practices more efficient and
sustainable."
The Future of Mining Challenge invites cleantech companies from
around the world to submit and propose industry solutions. This
year's challenge focuses on identifying eligible technologies with
the potential to reduce greenhouse gas emissions across mining
operations. In alignment with Wheaton's business model, the
solutions should be applicable for base and/or precious metal
mining. They should also be scalable globally, with the aim of
future implementation at operating mines. The challenge will be
supported by Foresight Canada.
"Wheaton is committed to supporting the industry by advancing
technologies and fostering new solutions that have the potential to
improve efficiencies at operations and reduce the impact of mining
activities," said Patrick Drouin,
Chief Sustainability Officer and President of Wheaton Precious
Metals International. "As long-term investors, we recognize that
while the industry continues to improve, there are opportunities to
address key challenges to ensure that mining can sustainably and
responsibly deliver the commodities needed for future
generations."
"Foresight is committed to supporting the world's largest
industries to be more environmentally and economically prosperous
through innovation programs with partners like Wheaton Precious
Metals", said Jeanette Jackson,
Chief Executive Officer of Foresight Canada. "By working together,
we will seek to identify solutions whose goal is to not only reduce
emissions but enhance the productivity and profitability of the
global mining sector. We are excited to see the innovations that
emerge."
Submissions for challenge applications open on September 18, 2024, and the winner will be
announced in March 2025 at the PDAC
Convention in Toronto, the world's
largest mining conference.
About Wheaton Precious Metals Corp.
Wheaton Precious Metals is a leading precious metals streaming
company, providing shareholders with access to a high-quality
portfolio of low-cost, long-life mines around the world. Through
strategic streaming agreements, Wheaton partners with mining
companies to secure a portion of their future precious metal
production. Committed to responsible mining practices, Wheaton
utilizes industry-leading due diligence practices with a goal of
unlocking long-term value for shareholders while supporting the
broader mining industry in delivering the commodities society needs
through access to capital.
About Foresight Canada
Foresight Canada helps the
world do more with less, sustainably. As Canada's largest cleantech innovation and
adoption accelerator, we connect public and private sectors to the
world's best clean technologies. We de-risk and simplify adoption
of solutions that improve productivity, profitability, and economic
competitiveness, all while addressing urgent climate challenges. We
are well-positioned to lead the green economic transition, having
supported 1,280+ companies to generate $511M in revenue and $1.77B in capital support, run 60+ industry
challenges, created 8,760+ green jobs, and reduced a projected 70+
Mt of GHG emissions.
Cautionary Note Regarding Forward Looking-Statements
This press release contains "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and "forward-looking information" within the
meaning of applicable Canadian securities legislation concerning
the business, operations and financial performance of Wheaton.
Forward-looking statements, which are all statements other than
statements of historical fact, include, but are not limited to,
statements with respect to climate change and ESG commitments by
Wheaton and at mineral stream interests currently owned by Wheaton
(the "Mining Operations"), the ability of any technology identified
in the Wheaton Future of Mining Challenge to potentially minimize
environmental impacts, improve efficiencies, or contribute to
climate solutions in the mining industry, the process for the
identification and selection of an award recipient under the
Wheaton Future of Mining Challenge, the payment of $1 million to an award recipient, and the ability
of an award recipient to potentially reduce greenhouse gas
emissions across mining operations. Forward-looking statements are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Wheaton to be materially different from those
expressed or implied by such forward-looking statements including
(without limitation) risks related to climate change,
environmental, social and governance matters, the ability to
achieve ESG commitments and goals at both Wheaton and the Mining
Operations, the ability to identify a technology that minimizes
environmental impacts, improve efficiencies, or contribute to
climate solutions in the mining industry, the process for the
identification and selection of an award recipient under the
Wheaton Future of Mining Challenge, the payment of $1 million to an award recipient, and the ability
of an award recipient to reduce greenhouse gas emissions across
mining operations and other risks discussed in the section
entitled "Description of the Business – Risk Factors" in Wheaton's
Annual Information Form available on SEDAR+ at www.sedarplus.ca and
Wheaton's Form 40-F for the year ended December 31, 2023 filed March 28, 2024 with the U.S. Securities and
Exchange Commission on EDGAR and the risks identified under "Risks
and Uncertainties" in Wheaton's Management's Discussion and
Analysis for the year ended December 31,
2023, available on SEDAR+ and in Wheaton's Form 6-K filed
March 19, 2024. Forward-looking
statements are based on assumptions management currently believes
to be reasonable, including (without limitation) that climate
change and ESG commitments and goals at both Wheaton and the Mining
Operations will be achieved, that technology identified in the
Wheaton Future of Mining Challenge will potentially be able to
minimize environmental impacts, improve efficiencies, or contribute
to climate solutions in the mining industry, that the process
for the identification and selection of an award recipient under
the Wheaton Future of Mining Challenge will be successful, that the
payment of $1 million to an award
recipient will be made, and that an award recipient will
potentially be able to reduce greenhouse gas emissions across
mining operations. There can be no assurance that
forward-looking statements will prove to be accurate and even if
events or results described in the forward-looking statements are
realized or substantially realized, there can be no assurance that
they will have the expected consequences to, or effects on,
Wheaton. Readers should not place undue reliance on forward-looking
statements and are cautioned that actual outcomes may vary. Any
forward-looking statement speaks only as of the date on which it is
made, reflects Wheaton's management's current beliefs based on
current information and will not be updated except in accordance
with applicable securities laws. There may be other factors that
cause results, performance or achievements not to be as
anticipated, estimated or intended.
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SOURCE Wheaton Precious Metals Corp.
