VANCOUVER, BC, March 4,
2025 /PRNewswire/ - Wheaton Precious Metals™
Corp. ("Wheaton" or the "Company") is pleased to announce the
winner of its inaugural Future of Mining Challenge. ReThink Milling
Inc. has been awarded US $1 million
for its Conjugate Anvil Hammer Mill (CAHM) and MonoRoll
technologies, which have the potential to revolutionize the milling
process. This innovative grinding technology demonstrates immense
potential to deliver greater efficiency with significantly lower
energy use, leading to reduced greenhouse gas emissions and
operating costs.
Wheaton launched the Future of Mining Challenge in September 2024 and invited companies from around
the world to propose industry solutions aimed at improving
operational efficiencies and minimizing environmental impacts. This
year's challenge focused on finding innovative, scalable
technologies that have the potential to reduce greenhouse gas
emissions across mining operations. The Future of Mining Challenge
is supported by Foresight Canada, Canada's largest cleantech innovation and
adoption accelerator.
"Constant innovation is essential to responsibly meet the
growing global demand for minerals and metals, and it is the
driving force behind our Future of Mining Challenge," said
Randy Smallwood, President and CEO
of Wheaton Precious Metals. "ReThink Milling's winning technology
is something we believe displays this innovation, and we are
pleased to support the company through the Future of Mining
Challenge award as they advance into commercialization. Integration
of new technology across global mining operations requires industry
support, and ReThink Milling has demonstrated they are well on
their way to moving this forward with the support of nine leading
mining companies and other industry partners. We hope the Future of
Mining Challenge award funds give the company a boost to propel
this technology further forward."
Steve Wilson, CTO of ReThink
Milling said, "We are thrilled to see our technology and prototype
machines recognized for their potential economic and environmental
benefits within the mining industry. Collaborating directly with
mining companies—those who will ultimately become our future
clients—has been a game changer in refining and advancing our
technology. We are deeply grateful to our industry collaborators
for their support and insights, and we're honoured to have our CAHM
Platform Technology acknowledged by Wheaton as a groundbreaking
innovation for the sector. We are excited for the next phase–to
scale our CAHM Platform Technology bringing it closer to a mine
site, paving the way for future commercialization and ongoing
engagement with existing and new collaborators."
Jeanette Jackson, CEO of
Foresight Canada, emphasized the impact of the Wheaton Precious
Metals Future of Mining Challenge, stating, "This challenge
showcases the potential power of cleantech to transform the mining
industry. By bringing innovators and industry leaders together,
we're driving solutions that could enhance productivity and support
a resilient economy."
To learn more information about Wheaton's Future of Mining
Challenge and the 2024/2025 winner, ReThink Milling, visit
www.futureofmining.ca. Applications for the 2025-2026 Future of
Mining Challenge will open later this year. The theme of the next
challenge will be announced in the coming months.
About Wheaton Precious Metals Corp.
Wheaton Precious
Metals is the world's premier 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 metals production.
Committed to responsible mining practices, Wheaton employs
industry-leading due diligence practices with a goal of unlocking
long-term value for shareholders while supporting the broader
mining industry to deliver the commodities society needs through
access to capital. Wheaton's shares are listed on the Toronto Stock
Exchange, New York Stock Exchange and London Stock Exchange under
the symbol WPM. Learn more about Wheaton Precious Metals at
www.wheatonpm.com or follow us on social media.
About Foresight Canada
Foresight Canada helps the world do more with less,
sustainably. As Canada's largest
cleantech innovation and adoption accelerator, they connect public
and private sectors to the world's best clean technologies,
de-risking and simplifying the adoption of innovative solutions
that improve productivity, profitability, and economic
competitiveness, all while addressing today's most urgent climate
challenges. Foresight is well-positioned to lead the green
economic transition, having supported 1431+ ventures to generate
$549M in revenues and $2.24B in
capital support, run 65+ industry challenges, and create
9,090+ high-paying jobs. Find out how they're redefining the
adoption and acceleration of cleantech at foresightcac.com, and
join the conversation on LinkedIn.
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 sustainability commitments and targets by Wheaton and at
mineral stream interests currently owned by Wheaton (the "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 the ability to achieve sustainability commitments
and targets at both Wheaton and the Mining Operations and other
risks discussed in the section entitled "Description of the
Business – Risk Factors" in Wheaton's Annual Information Form for
the year ended December 31, 2023 and
the risks identified under "Risks and Uncertainties" in Wheaton's
Management's Discussion and Analysis ("MD&A") for the year
ended December 31, 2023, both
available on SEDAR+ and in Wheaton's Form 6-K filed March 14, 2024, all available on EDGAR.
Forward-looking statements are based on assumptions management
currently believes to be reasonable, including (without limitation)
that sustainability commitments and targets at both Wheaton
and the Mining Operations will be achieved, there will be no
material adverse change in the market price of commodities, that
estimations of future production from the Mining Operations and
mineral reserves and resources are accurate, that the mining
operations from which Wheaton purchases precious metals will
continue to operate, that each party will satisfy their obligations
in accordance with the precious metals purchase agreements, and
that Wheaton's application of the CRA Settlement is accurate
(including the Company's assessment that there will be no material
change in the Company's facts or change in law or jurisprudence for
years subsequent to 2010) and possible domestic audits for taxation
years subsequent to 2017 and international audits.
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SOURCE Wheaton Precious Metals Corp.
