Officials from Glencore’s Kidd Creek operation and the Ontario Trillium foundation announced the creation of a ground-breaking private sector – public sector legacy fund in support of Timmins’ non-profit sector.
On hand to help launch the creation of the legacy fund were Tom Semadeni, the General Manager of Kidd Creek mines, Andrea Cohen-Barrack, CEO of the Ontario Trillium Foundation, Michael Gravelle, the Minister of Northern Development and Mines and Timmins Mayor Steve Black.
“The Legacy fund is our way of helping Timmins community once we close.” said Tom Semadeni, the General Manager of Glencore’s Kidd Creek Operations.
Semadeni explained that each year Kidd Creek contributes to various Timmins charities and the company would like to provide a fund to continue support the non-profit sector after they close.
The Kidd Operations-Ontario Trillium Foundation Legacy Fund will help fund vital community organizations in Timmins after the expected 2021 closure of the Kidd Creek mining operation which will be celebrating its fiftieth year anniversary in 2016.
But as Semadeni pointed out a month ago at his annual address about Kidd Creek’s Operations, the company is actively searching for addition copper, zinc and silver to mine.
Recent geophysical testing identified preliminary indication of additional resources, whether those resources are of great enough quantities to extend the life of Kidd Creek beyond 2021 still has to be determined.
Each organization will invest $500,000 into the fund after Kidd Creek closes its operations in Timmins.
“The Ontario Trillium Foundation and Kidd Operations share key goals to create meaningful and lasting impacts in the Timmins and Cochrane area,” stated Andrea Cohen Barrack.
This innovative joint venture breaks the ground for further partnerships between industry and the Trillium Foundation to benefit communities across Ontario.
“The non-profit sector makes a huge difference in communities such as Timmins,” Minister Gravelle said, “I am happy that more investments to the non-profit sector will be made through the Kidd Operations and the Ontario Trillium Foundation Legacy Fund.”
The Ontario Trillium Foundation is an agency of the Ontario government and is the largest grant issuing foundation in Canada.
Over the last five years the foundation has invested $3.2 million over 89 initiatives in the Timmins-Cochrane area.
Since 2007, Kidd Creek through their Community Partnership Program has provided nearly $4 million to community organizations and projects.
