The Young Mining Professionals (YMP) has announced the 2020 launch of its YMP Scholarship Fund, with a total of $61,500 available for the 2020-21 academic year for students studying mining-related programs in Canada.
"The idea for the scholarships was not only to support students but also to help our industry address the talent gap," Stephen Stewart, director of YMP Toronto and president and CEO of Orefinders Resources, said in an interview.
"We wanted to incentivize our students to study geology, mining engineering and mining-related disciplines by supporting the next generation of mining professionals."
YMP is an international association of mining professionals located in the major mining regions of the world. YMP's role, Stewart added, is to help participants obtain the skills, support and knowledge to successfully advance their careers, develop a network of contacts within the industry.
Each of YMP's scholarships includes cash incentives as well as internships with some of the donor companies. This year also includes the inaugural Mining Lottery Scholarship.
"The lottery is a new concept that we came up with this year," Stewart said. "The idea was to cast a wider net to see if we could make a bigger impact by giving smaller tranches to as many people as we can. The only criteria being that you are enrolled in a program for September."
The lottery currently has $16,500 for 33 students, Stewart added, with the winners selected at random starting the week of June 1 and biweekly draws until the funds out. For more information on the Lottery and how to apply, go to www.ympscholarships.com.
This year, the scholarships are being funded by Barrick Gold (TSX: ABX; NYSE: GOLD), Agnico Eagle Mines (TSX: AEM; NYSE: AEM), TD Bank (TSX: TD), Kinross Gold (TSX: K; NYSE: KGC), IAMGOLD (TSX: IMG; NYSE: IAG), Orefinders Resources (TSXV: ORX), Mistango River Resources (CSE: MIS), Champion Iron (TSX: CIA; ASX: CIA), Osisko Mining (TSX: OSK) and Yamana Gold (TSX: YRI; NYSE: AUY).
The YMP Scholarship Fund 2020 program includes:
The Peter Munk Scholarship - A $10,000 scholarship in partnership with Barrick, as well as an interview for an internship with Barrick, will be awarded to a student who embodies Peter Munk's entrepreneurial spirit.
The Agnico Eagle Perseverance/Kajussissimainarniq Scholarship - A $10,000 scholarship in partnership with Agnico Eagle, as well as an interview for an internship with Agnico Eagle, will be awarded to a Nunavut Inuit student pursuing a career in mining.
TD Securities Women in Mining Scholarship - A $5,000 scholarship will be awarded to an exceptional female currently in a mining-specific undergraduate program at a Canadian university.
TD Securities Mining Capital Markets - A $5,000 scholarship will be awarded to an exceptional student currently in a mining-specific undergraduate program at a Canadian university with a keen interest in capital markets.
Kinross Scholarship - Four $2,500 scholarships (two for males and two for females) funded by Kinross will be awarded to full-time undergraduate students attending any Canadian university and studying a technical mining field, such as mining engineering, geotechnical engineering, metallurgy, geological engineering and geology. An internship interview opportunity will be provided.
Yamana Gold's Student in Mining Scholarship - A $5,000 scholarship funded by Yamana will be provided to an extraordinary, aspiring industry professional enrolled in a mining-related program via an innovative one-page creation.
Mining Lottery Scholarship - The Lottery's purpose is to attract and develop Canada's best and brightest to further their education within the natural resource industry. The individual grants from the Lottery will be $500, with the sole criteria being confirmed current enrollment in an earth sciences or mining engineering program at a Canadian post-secondary institution for 2020-21.
Scholarships will be awarded to students who are pursuing a career in the mining industry and are enrolled in mining-related programs for the 2020-21 academic year at Canadian universities.
Applicants will be considered not just on their academic performance, Stewart added, "but also on their ability to demonstrate creativity, an entrepreneurial spirit, perseverance and a commitment to pursue a career in the mining industry."
The deadline to apply for all scholarships (except for the Lottery) is midnight on Aug. 31, 2020, with the winners announced on Sept. 30, 2020.
For more information on the scholarships, visit www.youngminingprofessionals.com/scholarships.
Individuals and corporations who would like to support or create a scholarship are encouraged to contact YMPSF directly at scholarships@youngminingprofessionals.com.
In addition to the scholarships, YMP has also raised $190,420 through its Mining Care initiative for the United Way Greater Toronto (UWGT) covid-19 Emergency Relief Fund. The UWGT fund is distributing $11 million to community services in the Peel Region, the City of Toronto and York Region.
"We have a good relationship with United Way and we wanted to do something positive for those who are suffering from the impacts of covid-19," Stewart said.
Donors to YMP, who included Alamos Gold (TSX: AGI; NYSE; AGI), Agnico Eagle Mines, Franco-Nevada (TSX: FN; NYSE: FN), IAMGOLD, Evolution Mining and the Canadian Institute of Mining (Toronto), raised $95,210, with YMP Toronto matching the first $5,000. These funds were then matched by Polar Asset Management and other leaders in the asset management sector, resulting in a total of $190,420.
Stewart said the funds will be "directly invested in the community to help those most affected by covid-19."