Wheaton Precious Metals brings back $1M Future of Mining Challenge

Wheaton Precious Metals, is returning its Future of Mining Challenge and invites ventures from around the world to propose industry solutions aimed at improving operational efficiencies and minimizing environmental impacts. 

“Constant innovation is essential to responsibly meet the growing global demand for minerals and metals, and it is the driving force behind Wheaton’s Future of Mining Challenge,” Wheaton CEO Randy Smallwood said in a news release. “As a partner to some of the world’s leading mining companies, Wheaton is uniquely positioned to support the industry as it advances the delivery of essential commodities and materials in a more sustainable manner.”

For the 2025/26 challenge, Wheaton will award $1 million to a cleantech venture with innovative technology that seeks to advance sustainable water management in the mining industry.

“The goal of Wheaton’s Future of Mining Challenge is to help unlock and support new technologies. Our hope is that the award will help to advance the challenge winner’s technology closer to commercialization,” Patrick Drouin, chief sustainability officer of Wheaton Precious Metals, said.

Wheaton invites cleantech innovators worldwide to participate in its Future of Mining Challenge and will accept expressions of interest until the end of day on Friday, August 29, 2025. After reviewing all expressions of interest, Wheaton will invite select ventures to submit a full application in September 2025.

This year, Wheaton collaborates with the University of British Columbia’s Sauder School of Business, leveraging the team’s deep expertise in venture building and early-stage innovation support.

In March 2026, Wheaton will announce the winner of the 2025/2026 Future of Mining Challenge during the PDAC Convention in Toronto, the largest mining conference in the world.

More information, and instructions on submitting an expression of interest are here.