Jun. 20, 2013
Sumitomo Metal Mining Co., Ltd.
SMM and SC Extend Joint Donation to University of Alaska Fairbanks’s Mining Engineering Research Endowment Fund
Sumitomo Metal Mining Co., Ltd. (SMM) and Sumitomo Corporation (SC) have decided to make a joint donation in the amount of US$1,059,000 to the Mining Engineering Research Endowment Fund of the University of Alaska Fairbanks (UAF) over a three-year period commencing in 2014. The donation will serve as a follow-up to a joint contribution to the same fund in the identical amount between 2011 and 2013.
Alaska, a state known for its harsh natural climate and stringent environmental regulations, has rich potential in mineral resources, and development of promising deposits is planned at points throughout the state. In 2011 the University of Alaska established the Mining Engineering Research Endowment Fund to foster experimental research and the cultivation of the human resources needed for anticipated mineral resource development projects. Recently, the university approached the major mining companies operating in the state with a request for donations to expand the fund further.
SMM is presently conducting operations at the Pogo Gold Mine in Alaska and also continuing explorations in the surrounding areas. The company is keenly aware of the need to develop human resources for the state’s mineral resources industry. Together with SC it responded positively to the University of Alaska’s recent request based on the judgment that cooperation in elevating the level of education and research will contribute to the further development of Alaska’s mining industry.
The specific amounts to be donated by SMM and SC will correspond to the shares of ownership in the Pogo Gold Mine held by their respective subsidiaries.
|Mining Engineering Research Endowment Fund, University of Alaska Fairbanks|
|The University of Alaska is Alaska’s primary state university with a rich history tracing back to the foundation of the Alaska Agricultural College and School of Mines in 1922.
Today the university encompasses three separately accredited institutions: the University
of Alaska Anchorage (UAA), the University of Alaska Fairbanks (UAF) and the University of Alaska Southeast (UAS). UAF has a total student enrollment of approximately 11,000.
|Location||：||approx. 145 km southeast of Fairbanks, Alaska|
|Ownership||：||Sumitomo Metal Mining Pogo LLC (wholly owned subsidiary of SMM) 85%|
|SC Pogo LLC (wholly owned subsidiary of SC) 15%|
|Gold production volume||：||approx.11t/yr|
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