REG - Wheaton Precious Met - WPM Launches Future of Mining Challenge

Wheaton Precious MetalsAnnouncement

16/09/2024 15:30

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RNS Number : 3804E  Wheaton Precious Metals Corp.  16 September 2024

 

 
September 16, 2024
Vancouver, British Columbia

 

 

Wheaton Precious Metals Launches

$1 Million Future of Mining Challenge

 

Vancouver, British Columbia - 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.

 

For further information:

 

Media Contact

Simona Antolak

Vice President, Communications & Corporate Affairs

Tel: 604-639-9870

Email: simona.antolak@wheatonpm.com (mailto:simona.antolak@wheatonpm.com)

 

Investor Contact

Emma Murray

Vice President, Investor Relations

Tel: 1-844-288-9878

Email: info@wheatonpm.com (mailto:info@wheatonpm.com)

 

 

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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