The Manitoba Government announced yesterday the establishment of a new fund that will help jump start mineral and economic development initiatives in the north and throughout the province.
The fund will be administered by the Manitoba Chambers of Commerce with Manitoba providing 20 million dollars to establish the fund with an additional annual infusion of up to six percent of revenues to be provided under the Mining Tax Act.
Under the new agreement communities and businesses including Indigenous groups, municipalities and the not for profit sector will be eligible to apply for funding. Financial assistance from the fund could include one-time grants for activities that help advance new mining opportunities and outreach to First Nations for collaborative resource development. Manitoba Chambers will have final decision making over which projects will be supported and will report annually to the province about the fund’s activities, results and financial health. The new fund replaces the Mining Community Reserve Fund.