Mining companies are increasingly adopting comprehensive water stewardship strategies to address risks to the watersheds where they operate. From the recognition that outcomes can be improved through the support and adoption of new technology solutions, Wheaton Precious Metals has made finding innovative, scalable technologies that support sustainable water management in mining the central focus of the second annual Future of Mining Challenge, where the winner, announced at the PDAC convention, will receive US$1-million and industry exposure.MARKUS THOMPSON AND NATURE TRUST OF BC
Water is a foundational element for sustaining life, producing food, driving major industries and maintaining environmental health. Access to safe water is a recognized human right, with UN scientists warning that the world is entering an “era of global water bankruptcy.”
The recognition that water is not merely a commodity but a shared, finite and essential resource inspired the theme of the second annual Future of Mining Challenge, led by Wheaton Precious Metals, one of the world’s largest precious metals streaming companies.
“Pressure on water systems affects everyone relying on this resource, and there are lots of examples of communities across the world facing water scarcity and water quality impacts,” says Randy Smallwood, Wheaton CEO. “In the mining industry, every operation uses and can impact water, so we should be cognizant of the ‘water cost’ required for producing a pound of copper, for example, or for an ounce of gold or silver.”
Looking at water use and water quality in terms of costs – similar to the discussion about carbon – can add urgency to the “intention to reduce impacts to water resources from the mining industry,” he proposes. “If we can find ways to reduce consumption and avoid impacts to water quality while increasing efficiency, that’s a very worthy target.”
Winners of the inaugural Future of Mining Challenge, Steve Wilson and Gillian Holcroft of ReThink Milling, accept the prize money presented by Randy Smallwood, president and CEO of Wheaton Precious Metals.SUPPLIED
The aim of the 2025/2026 challenge was to identify “innovative, scalable technologies that may support responsible water management in mining, including innovations related to water use reduction and efficiency, water monitoring, and tailings and wastewater management.”
While Wheaton has partners across its portfolio who would benefit from “improvements to efficiency in water management,” Mr. Smallwood emphasizes the importance of the challenge “having a broader reach. We’re trying to identify potential solutions that offer benefits not only for the precious metals industry but for the entire sector and beyond.”
Randy Smallwood“ In the mining industry, every operation uses water, so we should be cognizant of the ‘water cost’ required for producing a pound of copper, for example, or for an ounce of gold or silver.
CEO, Wheaton Precious Metals
A commitment to the global community
The goal to achieve a big impact with the Future of Mining Challenge reflects a “commitment by Wheaton to support the broader industry,” says Mr. Smallwood. “As a streaming company, we don’t own or operate mines, but we do provide capital to our mining partners and receive generally by-product precious metals production in exchange for that capital.”
While there is a strong focus on enabling the success of partners, “we also realize that we’re part of a global community, so we have a goal to find ways to minimize the industry’s environmental footprint and improve efficiencies,” he says.
“In today’s world, we need to promote responsible practices of a global scope. After all, there is only one planet we have to work with.”
Mr. Smallwood, who brings a global perspective through Wheaton’s portfolio of international partners and his experience as a former chair of the World Gold Council, says Canada has an opportunity to lead by example.
“Canada, as an advanced economy and a resource-rich country, has always been a leader in this space,” he notes, “and we have an industry that is recognized internationally for its commitment to sustainability and responsible practices.”
As a result, many progressive industry standards were pioneered in Canada. Examples are the Towards Sustainable Mining initiative by the Canadian Mining Association (CMA) and the NI 43-101 standards of disclosure for mineral projects by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), of which Mr. Smallwood is the incoming president-elect.
“I’m proud of the track record of Canadian companies, who generally maintain top standards wherever they operate, and we need to continue to do everything we can to lead in responsible resource extraction,” he adds.
Inspiration from the inaugural challenge winner
For inspiration, Mr. Smallwood points to insights gained from the inaugural Future of Mining Challenge, which was focused on improvements to efficiency, greenhouse gas reduction and environmental impact.
“Last year’s winner, ReThink Milling, was able to reduce communition costs,” he says. “These cost-savings translate to a significant operational and environmental benefits.”
ReThink Milling’s technology – specifically the Conjugate Anvil Hammer Mill and MonoRoll – offers significant reductions in the environmental footprint by replacing traditional, energy-intensive ball mills and SAG mills, leading to direct energy savings.
“Seeing potential cost-savings is truly transformative. It underscores how closely operational efficiency and environmental performance are connected – and how far-reaching the benefits can be,” says Mr. Smallwood, who explains that reductions in fuel and energy use can have an especially meaningful impact for remote operations, where power and materials are significantly more expensive.
Winning the challenge elevated the profile of ReThink Milling and the company is now working towards trial programs with major mining teams, he says. “We hope to see more uptake of new technologies, especially since the current commodity price environment can help stimulate new developments.”
An international stage for showcasing global solutions
For Mr. Smallwood, it is fitting that the winner of the Future of Mining Challenge is announced at the PDAC convention, the world’s largest mineral exploration and mining convention, which brings together attendees from over 125 countries.
“It’s a global competition run by a Canadian company,” he says. “It demonstrates our commitment to championing the best ideas from around the world.”
Criteria for selecting the 2025/2026 winner looked at the significance of improvements in water management in mining; the technology readiness level; a clear actionable path to implementation and scalability; as well as relevance to base or precious metals mines that are operating or in active closure. This year, Wheaton partnered with the University of British Columbia’s Sauder School of Business to work alongside a team with deep expertise in venture-building and early-stage innovation support.
The award for the winning venture is US$1-million plus industry exposure to help propel the innovative solution toward commercialization, says Mr. Smallwood. “We now have three finalists: pH7 Technologies, Cetos Water and H2nanO.”
All three are sustainability-focused companies that develop innovative, low-energy and eco-friendly solutions to tackle water, waste and mineral extraction and processing challenges. What sets them apart is their focus: pH7’s organo-electrochemical technology improves recoveries for heap leach operations; Cetos works on advanced membrane-less technology to effectively treat wastewater and recover potable water; and H2nanO specializes in passive, sun-driven oxidation to treat wastewater.
The announcement of the winner will take place at a technology showcase, where all three ventures will have an opportunity to pitch their solutions in front of an audience of industry partners, including Wheaton’s mining partners.
The 2025/2026 Future of Mining special technical showcase is scheduled for Monday, March 2, at the PDAC convention.
Advertising feature produced by Randall Anthony Communications with the Prospectors & Developers Association of Canada. The Globe’s editorial department was not involved.