Wheaton Precious Metals Corp. and its subsidiaries (“Wheaton”) generate revenue by entering into streaming agreements with third party independent mining companies (“Third-Party Operators”) with operating mines as well as exploration and development-stage mining projects (“mine project(s)”).
Wheaton is not involved in nor does it control the operational decisions of mine projects by Third-Party Operators; however, Wheaton is indirectly exposed to environmental, social and governance (“ESG”) and other risks arising from these mine projects. For this reason, Wheaton reviews ESG risks and issues prior to entering into a streaming agreement, and continuously monitors ESG issues once a streaming agreement is in place.
Our Investment Principles guide Wheaton's approach to evaluating potential streaming transactions as well as monitoring existing streaming agreements. The purpose of these principles is to identify Mining Partners that appropriately manage their ESG and other risks in order to minimize Wheaton's indirect exposure to those risks.
Additionally, Wheaton requires that our suppliers, including Mining Partners, meet or exceed certain standards of business practice. The Company's Partner/Supplier Code of Conduct sets out the minimum standards of conduct expected from all suppliers and includes expectations related to compliance with applicable law, business ethics and integrity, health and safety, human rights and labour, environment, and host communities.