In an exciting opportunity for more locals to gain financial support to achieve their goals, Northparkes Mines and Triple Flag have announced a funding boost for the Parkes and Forbes communities.
Our communities will receive a $50,000 boost heading into 2021 thanks to an agreement in place with Northparkes Mines and Triple Flag International Ltd.
The funding will be split into three areas with $20,000 going towards the Northparkes Community Investment Program already in place supporting Parkes and Forbes; another $10,000 will go towards the Northparkes Triple Flag Sports Grants in Forbes; and the final $20,000 will be used to create a new scholarship program called the Northparkes Triple Flag Scholarships.
In an announcement released last week, Northparkes said the funding is a result of a gold and silver streaming agreement between certain subsidiaries of China Molybdenum Co Ltd (CMOC) and Triple Flag, a gold-focused streaming and royalty company based in Toronto, Canada.
"We are excited to see how our contribution to the communities of Parkes and Forbes can help to positively shape the future," Triple Flag CEO Shaun Usmar said.
"We prefer partnerships that have longevity and will make a sustainable difference in communities, and we feel these programs will do just that."
Northparkes Mines Managing Director Hubert Lehman said the investment reinforces their approach of investing in the future of the community through meaningful partnerships.
"Triple Flag shares the view of investing in local communities for the success of all and we're extremely happy to partner with them moving forward," he said.
The Northparkes Community Investment Program supports projects and events which contribute to the Parkes and Forbes LGA.
The extra funding will take the program from an $80,000 to $100,000 investment each year.
"This means more support across the community in the areas of economic development, culture and recreation, education and youth and environment and health," Mr Lehman said.
The Northparkes Triple Flag Sports Grants is designed to provide financial assistance grants to sporting groups in the Forbes Shire (similar to what the Parkes Sports Grants Program does in the Parkes Shire). The $10,000 investment will be managed by the Forbes Shire Council.
The new Northparkes Triple Flag Scholarships will launch early this year and will be administered by Northparkes Mines.
The program will provide financial assistance to community members from the Parkes and Forbes LGAs who are successfully enrolled in university, TAFE, VET or other nationally recognised training programs.
Four scholarships at the value of $5000 each will be available each year.