Mining is an essential driver of our society, with the raw materials it provides embedded into almost every aspect of modern life. From mined materials used in applications ranging from infrastructure, transportation, electronics and medicine, to precious metals providing economic stability through tangible stores of value for financial systems, mining’s role will continue to be invaluable in the transition to an innovative, greener and prosperous economy.
The new annual Wheaton Precious Metals Future of Mining Challenge seeks to support mining to become more efficient while minimizing its environmental impact, with a goal of allowing the industry to continue to deliver these essential commodities and materials in a more sustainable manner.
This year, USD $1,000,000 will be awarded to a solution that targets the reduction of greenhouse gases and carbon intensity at base and precious metals mines, with funds being used to help further advance the technology.
As a global industry leader, Wheaton Precious Metals Corp. is utilizing their unique position to seek to drive innovation in the mining sector globally. They are committed to supporting cleantech ventures around the world whose solutions may reduce mining’s environmental footprint, enhance sustainability and efficiency, while continuing to deliver essential resources for an innovative, clean, and prosperous economy.
Solutions should be applicable to base metal and precious metal mining, and scalable on a global perspective. The desired technology should meet Technology Readiness Level (TRL) 5-7. The winner of the challenge will receive USD $1,000,000 to further advance their technology. The winner will be announced at the PDAC Convention in Toronto in March 2025, the world’s largest mining conference.
Wheaton Precious Metals is leveraging Foresight Canada’s extensive network of cleantech innovators and ecosystem knowledge to support the innovation search.
Applicants based anywhere in the world are eligible.
Key dates:
- Applications open: September 16, 2024
- Informational webinar: October 8, 2024
- Applications close: November 22, 2024
- Finalists announced: Mid-January, 2025
- Finalist pitches: Mid-February, 2025
- Winners announced: March 2025
The Future of Mining Challenge is presented and funded by Wheaton Precious Metals, supported by Foresight Canada.
Applications are now closed.
As a leader in precious metals streaming, Wheaton is a long-term investor in the mining industry. We recognize our responsibility in supporting and advancing solutions that help reduce environmental impacts, contribute to decarbonization, and strengthen climate adaptation and mitigation strategies. Our Future of Mining Challenge is focused on identifying technologies with the potential to enhance operational efficiencies at base and precious metal mining sites, ensuring we responsibly meet the global demand for the resources needed for everyday life.
Randy Smallwood President and CEO, Wheaton Precious Metals
As the demand for metals and materials grows it is more important than ever to innovate solutions that reduce the environmental and social impact of mining. The Wheaton Precious Metals Future of Mining Challenge represents a unique opportunity to seek meaningful change in the sector, transforming the face of traditional industries for the future by enhancing sustainability and productivity while accelerating the global transition to a net zero economy.
Jeanette Jackson CEO, Foresight Canada
We cannot reach our net zero goals without responsible, sustainable mining. Mining will continue to supply the critical, base, and precious minerals and metals necessary for clean energy technologies. However, we must prioritize environmental integrity, ensuring that our pursuit of sustainable energy does not come at the cost of our planet's health. Efficient and sustainable mining practices are key to a low carbon future.
Kylie Williams Regional Director, BC, Foresight Canada
About Wheaton Precious Metals
Wheaton Precious Metals is a leading precious metals streaming company, providing shareholders with access to a 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 to unlock 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. Find out how we’re redefining acceleration at foresightcac.com, and join the conversation on LinkedIn.
