Osisko Gold commits to socioeconomic efforts in District of Wells
North American gold miner Osisko Gold Group has entered into a support and benefits agreement with the District of Wells, in British Columbia, to support social and economic imperatives within the district as the company and its subsidiary Barkerville Gold Mines develops the Cariboo gold project.
The agreement reflects the company's commitment to addressing local interests and concerns, and establishes a framework for ongoing collaboration as the project advances.
"This agreement reflects a strong and collaborative partnership between the District of Wells and Osisko Gold. As Cariboo moves toward construction, this agreement provides us with critical resources and structure to address community needs and ensure that residents benefit from the opportunities ahead. We look forward to building on this foundation together," says District of Wells Mayor Ed Coleman.
Over its three-year term, the agreement between the parties contemplates voluntary financial contributions by Osisko Gold of up to $3-million in aggregate, subject to the company's sole discretion.
The contributions will be advanced in stages over its three-year term to support durable, long-term community infrastructure investments and other priority initiatives identified by the district.
Some of the agreed-upon priorities include targeted capital and operating support of $500000 for the WILDways High School. This funding is intended to support the school's infrastructure needs and continued operation to provide high-school-aged residents of Wells with the opportunity to attend high school in their local community.
"We recognise that community engagement is an ongoing process and we remain committed to working collaboratively with the district to address the community's social and economic priorities as Cariboo advances," says Osisko Gold sustainable development VP Greg Perrins.
