Newcrest Mining announces A$20 million fund for COVID-19
(Kitco News) - Newcrest Mining (ASX:NCM) announced Tuesday that it has established a A$20 million Community Support Fund to provide financial support to its host communities to assist them with the challenges associated with the COVID-19 pandemic.
"The health and safety of our people and host communities is our prime concern. The Community Support Fund will initially focus on increasing the availability of medical care and equipment to cope with the pandemic, as well as assisting in the provision of other essential goods and services, in the communities that host Newcrest’s operations worldwide," said Sandeep Biswas, Managing Director and Chief Executive Officer.
Recognizing that the development of a vaccine for COVID-19 could save many lives worldwide, a portion of the fund will go towards vaccine research. Around half of the fund will be dedicated to assisting Papua New Guinea's preparations for and management of COVID-19.
Newcrest said it will partner with host governments, communities and First Nations leaders to prioritize and deliver programs under the fund in the most effective manner.