ReThink Milling wins Wheaton’s $1M prize for grinding technology

ReThink Milling, a start-up aiming to improve the milling process, became on Tuesday the winner of Wheaton Precious Metals’ (TSX: WPM) Future of Mining Challenge, securing a $1 million prize to advance its innovative grinding technology.

The Toronto-based company was recognized for its Conjugate Anvil Hammer Mill (CAHM) and MonoRoll technologies, which have exceeded initial expectations of being 50% more efficient while using 50% less energy. These solutions result in lower greenhouse gas emissions and reduced operating costs, positioning the technology as a game-changer for the mining sector.

Wheaton Precious Metals launched the Future of Mining Challenge in September 2024, inviting companies worldwide to propose solutions that address key industry challenges. The competition aimed to identify innovations that not only cut emissions but also enhance productivity and profitability within the mining sector.

This year’s challenge focused specifically on scalable technologies with the potential to significantly reduce greenhouse gas emissions across mining operations. The initiative is supported by Foresight Canada, the country’s largest cleantech innovation and adoption accelerator.

“Constant innovation is essential to responsibly meet the growing global demand for minerals and metals, and it is the driving force behind our Future of Mining Challenge,” Randy Smallwood, President and chief executive of Wheaton Precious Metals, said. “ReThink Milling’s winning technology is something we believe displays this innovation, and we are pleased to support the company (…) as they advance into commercialization.”

Steve Wilson, chief technology officer of ReThink Milling, expressed enthusiasm for the next phase of development. “We are excited to scale our CAHM Platform Technology, bringing it closer to a mine site and paving the way for commercialization while engaging with both existing and new collaborators.”

Jeanette Jackson, CEO of Foresight Canada, emphasized the impact of the Wheaton’s initiative.

“This challenge showcases the potential power of cleantech to transform the mining industry. By bringing innovators and industry leaders together, we’re driving solutions that could enhance productivity and support a resilient economy,” she said.

As the mining industry faces mounting pressure to adopt sustainable practices, initiatives like the Future of Mining Challenge highlight the critical role of innovation in shaping the sector’s future.