Vancouver-based Wheaton Precious Metals is bringing back its Future of Mining Challenge, offering $1 million USD to a cleantech venture working on sustainable water management in mining. The company is looking for innovations that could help reduce the environmental impact of an industry facing growing pressure to clean up its operations.

The challenge is open to applicants worldwide, with expressions of interest due by August 29, 2025. A shortlist of ventures will be invited to submit full proposals in the fall, and a winner will be announced in March 2026 at the PDAC Convention in Toronto—one of the largest mining events in the world. This year, Wheaton is also partnering with UBC’s Sauder School of Business to help identify and support promising early-stage ideas.

Wheaton’s leadership says the goal isn’t just to reward innovation, but to help move breakthrough technologies closer to real-world use. “Our hope is that the award will help to advance the challenge winner’s technology closer to commercialization,” said Chief Sustainability Officer Patrick Drouin. The company is encouraging cleantech startups and researchers to learn more at futureofmining.ca.