The 2023 Young Mining Professionals Scholarship Fund (YMPSF) has awarded a total of $210,000 to students pursuing mining-related programs at post-secondary institutions across Canada.
While the scholarships are invaluable for students, the 25 mining companies contributing to the fund benefit just as much if not more, according to Anthony Moreau, director of the fund and CEO of American Eagle Gold (TSXV: AE).
“This isn’t just a scholarship fund,” said Moreau. “It’s a way for mining companies to access the best and brightest young talent from the thousands of applications we receive. If you’re a mining company looking to hire summer interns and build relationships with students for eventual full-time employment, participation in the scholarship fund is really a no brainer.”
Moreau cited the example of Windsor Salt, a new sponsor this year that immediately offered internships to two scholarship winners. “Everyone benefits,” said Moreau. “Windsor Salt is able to recruit new talent while the students get valuable experience and help covering the cost of their education.”
“That’s teamwork and speaks volumes about their company, our industry and the reputation of the Scholarship Fund,” he said.
Ammar Al-Joundi, president of Agnico Eagle Mines (TSX: AEM; NYSE: AEM), another scholarship sponsor, said that investing in the YMPSF means more than just supporting education.
“It’s about fostering the next generation of industry leaders and promoting responsible and innovative practices. Agnico Eagle,” he said, “is particularly proud to help empower Inuit youth and unlock their full potential.”
Another mining executive, John McCluskey, CEO of Alamos Gold (TSX: AGI; NYSE: AGI), described the YMP Scholarship Fund as “an important initiative to attract young people to Canada’s exploration and mining industry.”
Individual scholarships range in value from $500 to $15,000.
The growing awareness of the fund’s value has led Young Mining Professionals to aim at increasing the fund from $210,000 to $500,000 or more next year by aggressively reaching out “to every mining company with a presence on the Canadian exchange or an asset in Canada,” pledged Moreau.
A registered Canadian charity offering tax receipts to donors, the fund was established in 2018 by the Ore Group with a mere $12,000 awarded to students.
Every dollar contributed by the participating mining companies goes to the scholarship winners as the program is administered entirely by volunteers.
This year’s scholarships were funded by Agnico Eagle Mines (TSX: AEM; NYSE: AEM), Alamos Gold (TSX: AGI; NYSE: AGI), American Eagle Gold (TSXV: AE), Appian Capital Advisory, B2Gold (TSX: BTO; NYSE: BTG), Barrick Gold (TSX: ABX; NYSE: GOLD), Baselode Energy (TSXV: FIND), Equinox Gold (TSX: EQX; NYSE: EQX), Gold Royalty (NYSE: GROY), Iamgold (TSX: IMG; NYSE: IAG), Joan Margaret Stewart, Kinross Gold (TSX: K; NYSE: KGC), Mistango River Resources (CSE: MIS), Metal Energy (TSXV: MERG), The Northern Miner, Okane Consultants, OreCap Invest Corp. (TSXV: OCI; US-OTC: ORFDF), O3 Mining (TSXV: OIII; US-OTC: OIIIF), Pan American Silver (TSX: PAAS; NYSE: PAAS), QC Copper & Gold (TSXV: QCCU; US-OTC: QCCUF), Sprott Inc. (TSX: SII; NYSE: SII), TD Securities, Triple Flag Precious Metals (TSX: TFPM, NYSE: TFPM), Windsor Salt and YMP Toronto.
A list of winners will be posted on the Young Mining Professionals website at the end of November.