Communities that are directly influenced by the Wheaton’s mines will receive 80% of the CSR fund. Credit: enriquelopezgarre from Pixabay.

Multinational precious metals streamer Wheaton Precious Metals has launched a $5m fund to support global efforts to limit the spread of the coronavirus (Covid-19) outbreak.

The Community Support and Response (CSR) fund is designed to meet the immediate needs of the communities in which the company operates.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The new fund is in addition to Wheaton’s existing Community Investment Programme that provides support to more than 50 initiatives in various communities across the world.

Communities which are directly affected by the company’s mine operations will receive 80% of the CSR fund.

Wheaton said the company would work in close collaboration with partners to identify the needs of the community and assess where funds could be used to fill an immediate gap.

Wheaton president and CEO Randy Smallwood said: “Although both Wheaton and our partners have been impacted as result of the Covid-19 pandemic, it is clear that many of our neighbours in the community face even greater challenges and will continue to do so over the coming months.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“We extend our deepest sympathies to everyone that has been impacted by Covid-19. It is during challenging times like these when charity is most important – it is simply the right thing to do.”

Vale Base Metals CEO Mark Travers said: “We are grateful to Wheaton Precious Metals for supporting our fight against Covid-19.

“It is a testament to our partnership with Wheaton in Canada and Brazil and reinforces our mutual interest in the long-term health and prosperity of communities where we operate.”

In July 2018, Wheaton Precious Metals, through its subsidiary, signed an agreement to buy gold and palladium from Stillwater and East Boulder mines (Stillwater), located in Montana in the US and owned by South African firm Sibanye Gold.