Precious metals investment vehicle Wheaton Precious Metals Corp has selected wastewater treatment solutions provider Cetos Water as the winner of its second yearly Future of Mining Challenge and awarded the company a $1-million prize to continue advancing its technology that turns wastewater from mining activities into clean, reusable water.

“Cetos Water’s approach to tackling one of mining’s most pressing challenges exemplifies the type of bold, practical innovation we set out to support through the Future of Mining Challenge. Their technology has the potential to improve how water is managed across mining operations, and we are proud to award them with $1-million to continue to advance their work," says Wheaton CEO Randy Smallwood.

“The mining industry continues to explore new ways to integrate sustainable solutions into core operations, and emerging technologies like this show strong promise in driving meaningful change. Cetos Water is working to enable more efficient reuse of water at mine sites by providing a low-energy, solvent-based approach. We are pleased to support a solution that has the potential to contribute to stronger environmental outcomes across the sector," adds Wheaton president Haytham Hodaly.

Cetos Water founder and CEO Shannon Knee says the company is honoured to have been recognised by Wheaton and to help advance a more sustainable, water-secure future for mining worldwide.

“Cetos Water seeks to transform complex wastewater from a liability into a resilient resource: supporting discharge compliance and reducing tailings liabilities in water-abundant regions, while unlocking unconventional water supply in water-scarce areas."

This year’s Future of Mining Challenge focused on identifying innovative technologies that support sustainable water management in mining. Delivered in partnership with the University of British Columbia Sauder School of Business, the second yearly Future of Mining Challenge attracted a significant number of high-quality applications from ventures around the world, underscoring the growing momentum behind innovation aimed at making mining more sustainable.

In addition to Cetos Water, Wheaton recognised pH7 Technologies and H2nanO as finalists. All three finalists participated in a technology showcase, where they presented their solutions and highlighted the potential impact of their innovations to industry stakeholders.

Applications for the 2026/27 Future of Mining Challenge will open later this year and will focus on technologies that reduce the impact on land through more efficient mining and processing.