TSX: WPM
NYSE: WPM
VANCOUVER, May 28, 2020 /PRNewswire/ - Wheaton Precious
Metals™ Corp. ("Wheaton" or the "Company") is pleased to release
its inaugural 2019 Sustainability Report, which highlights the
Company's environmental, social and governance ("ESG") performance
and achievements. In addition, Wheaton is providing an update on
the Community Support and Response Fund ("CSR Fund") launched in
April to help combat the impacts of COVID-19 on global communities.
All amounts are in US dollars unless otherwise noted.
Inaugural Sustainability Report
"We are excited to release our inaugural Sustainability Report,
which shares our approach towards environmental and social
sustainability. Our commitment to promoting responsible mining
practices and supporting local communities has been ingrained in
our corporate culture since we founded Wheaton over 15 years ago,"
said Randy Smallwood, President
& CEO of Wheaton. "We have been leaders in the metals streaming
space in this regard, and we intend to continue to set a high
standard for our peers. The long-term sustainability of the mining
industry is dependent on our collective efforts to operate
responsibly through strong ESG policies and processes, irrespective
of whether we are the operator or a streaming and royalty company.
It is the right thing to do."
The topics and content covered in the 2019 Sustainability Report
were determined through a detailed, multi-step materiality
assessment. This resulted in a final list of topics deemed material
to the Company and its stakeholders. Wheaton's inaugural report
highlights the Company's ESG performance and achievements in 2019
as well as historical information. Wheaton first launched the
Partner Corporate Social Responsibility Program in 2014 and was
proudly the first streaming/royalty company to initiate support for
the mining communities where the precious metals are produced.
Details on these programs can be found in the report. The 2019
report also serves as Wheaton's first Communication on Progress as
part of its commitment to the United Nations Global Compact. A copy
of the report is available on the website at
www.wheatonpm.com.
Community Support & Response Fund Update
In April 2020, Wheaton launched a
$5 million CSR Fund to support the
global efforts to combat the COVID-19 pandemic and its impacts on
our communities. The CSR Fund is designed to address the immediate
needs in the following areas of support: community healthcare, food
security and socio-economic impacts. The funds have been used to
purchase Personal Protective Equipment (PPE), test kits, portable
ventilators, medical equipment, food and hygiene products, as well
as supporting frontline non-profit organizations including food
banks, shelters and hospitals.
Eighty percent of the CSR Fund has been targeted to the
communities that are directly influenced by the mines on which we
have precious metals streaming agreements and the remainder has
been allocated to local programs in Vancouver and Grand
Cayman where our offices are located.
Since launching the fund, Wheaton has committed $1.7 million to initiatives with our partners in
mining communities. A few key programs funded to date are
highlighted below:
- Constancia
(Peru): Funded the purchase of test kits, PPE,
hygienic items as well as blankets and jackets for families in
need.
- Salobo (Brazil): Funded an initiative to
provide over 4,200 families with a monthly supply of food and
hygiene products.
- Sudbury and Voisey's Bay
(Canada): Supported a
number of charities in Sudbury and
Goose Bay including the United Way, a regional hospital foundation
and a women's shelter.
- San Dimas (Mexico): Funded the purchase of medical
equipment including portable ventilators, an X-ray machine and
related supplies for the local community.
"Hudbay is very grateful for Wheaton's continued commitment to
support the communities surrounding the Constancia mine in
Peru," said Carlos Castro Silvestre, Executive Director,
Business Development and Corporate Affairs at Hudbay Perú S.A.C.
"Wheaton's contribution of $500,000
will be used to support COVID-19 initiatives to ensure the health
and safety of our workforce and the local communities during this
difficult time."
Locally, Wheaton has deployed 75% of the fund allocated to
Vancouver and Grand Cayman. This includes donations to the
Greater Vancouver Food Bank, Covenant House Vancouver, The
Frontline Fund, The Salvation Army-BC Division, Union Gospel
Mission, KidSafe Project Society, Act of Random Kindness, Kiwanis
Club of Grand Cayman, among many
others.
"On behalf of our clients, staff and volunteers I want to extend
our heartfelt gratitude for the grant we recently received from
Wheaton for CA$100,000," said Cynthia
Boulter, Chief Operating Officer at the Greater Vancouver
Food Bank. "This level of transformative gift provides us with so
much security, and the confidence that we will continue to be able
to provide healthy food to those in need in the months to come, as
we are expecting the need in our communities to steadily
increase."
We will continue to work with our mining partners and non-profit
organizations to identify where funds could make the greatest
impact and alleviate pressures resulting from the
pandemic.
About Wheaton Precious Metals Corp.
Wheaton is the world's premier precious metals streaming company
with the highest-quality portfolio of long-life, low-cost assets.
Its business model offers investors commodity price leverage and
exploration upside but with a much lower risk profile than a
traditional mining company. Wheaton delivers amongst the highest
cash operating margins in the mining industry, allowing it to pay a
competitive dividend and continue to grow through accretive
acquisitions. As a result, Wheaton has consistently outperformed
gold and silver, as well as other mining investments. Wheaton
creates sustainable value through streaming.
CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS
This press release contains "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and "forward-looking information" within the
meaning of applicable Canadian securities legislation concerning
the business, operations and financial performance of Wheaton and,
in some instances, the business, mining operations and performance
of Wheaton's precious metals purchase agreement ("PMPA")
counterparties. Forward-looking statements, which are all
statements other than statements of historical fact, include, but
are not limited to, statements with respect to timing or
achievement of future goals, programs, and related disclosure with
respect to our operations, development, sustainability,
environmental, safety and diversity initiatives, the impact of
epidemics (including the COVID-19 virus pandemic), the ability of
Wheaton's PMPA counterparties to comply with the terms of a PMPA
(including as a result of the business, mining operations and
performance of Wheaton's PMPA counterparties) and the potential
impacts of such on Wheaton and the ability of Wheaton's PMPA
counterparties to comply with the terms of any other obligations
under agreements with Wheaton.
Forward-looking statements are subject to known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Wheaton
to be materially different from those expressed or implied by such
forward-looking statements, including but not limited to risks
associated with fluctuations in the price of commodities (including
Wheaton's ability to sell its precious metals or cobalt production
at acceptable prices or at all), risks of significant impacts on
Wheaton or the Mining Operations as a result of an epidemic
(including the COVID-19 virus pandemic), risks related to the
Mining Operations (including fluctuations in the price of the
primary or other commodities mined at such operations, regulatory,
political and other risks of the jurisdictions in which the Mining
Operations are located, actual results of mining, risks associated
with the exploration, development, operating, expansion and
improvement of the Mining Operations, environmental and economic
risks of the Mining Operations, and changes in project parameters
as plans continue to be refined), the ability of each party to
satisfy their obligations in accordance with the terms of the
PMPAs, and other risks discussed in the section entitled
"Description of the Business – Risk Factors" in Wheaton's Annual
Information Form available on SEDAR at www.sedar.com, and in
Wheaton's Form 40-F for the year ended December 31, 2019 and Form 6-K filed March 11, 2020, both on file with the U.S.
Securities and Exchange Commission in Washington, D.C., as well as the updates
contained in Wheaton's managements' discussion and analysis for the
period ended March 31, 2020 available
on SEDAR and on file with the U.S. Securities and Exchange
Commission (the "Disclosure").
Forward-looking statements are based on assumptions management
currently believes to be reasonable, including (without
limitation): that neither Wheaton nor the Mining Operations will
suffer significant impacts as a result of an epidemic (including
the COVID-19 virus pandemic), that each party will satisfy their
obligations in accordance with the PMPAs, Wheaton's ability to
complete goal and initiatives in the areas of, among other things,
sustainability, environment, safety and diversity, and such other
assumptions and factors as set out in the Disclosure. There can be
no assurance that forward-looking statements will prove to be
accurate and even if events or results described in the
forward-looking statements are realized or substantially realized,
there can be no assurance that they will have the expected
consequences to, or effects on, Wheaton. Readers should not place
undue reliance on forward-looking statements and are cautioned that
actual outcomes may vary. Any forward-looking statement speaks only
as of the date on which it is made, reflects Wheaton's management's
current beliefs based on current information and will not be
updated except in accordance with applicable securities laws.
View original
content:http://www.prnewswire.com/news-releases/wheaton-precious-metals-releases-inaugural-2019-sustainability-report-and-provides-update-on-community-support-and-response-fund-301067349.html
SOURCE Wheaton Precious Metals Corp.