Today I am pleased to announce the first grant to be offered under the $8 million Beaconsfield Community Fund which I announced on 29 May 2006.
A grant of $4.873 million has been approved to Allstate Explorations NL on behalf of the Beaconsfield Gold Mine.
This assistance will support the mine, the miners and their families over the next few months to support care and maintenance activities while the state inquiries are underway.
Subject to the outcome of state inquiries and in the event that the mine may be allowed to re-open later this year, the assistance will also allow the mine to undertake a number of critical investment activities over the next 12 months to help secure its longer term future.
This assistance recognises the significant economic contribution the mine makes to the Beaconsfield region. It also demonstrates the Australian Government's commitment to secure Beaconsfield's economic future.
The Beaconsfield Community Fund has been established to help the Beaconsfield mine, its employees and their families and the Beaconsfield community to move forward from the extraordinary and tragic events of the Anzac Day rock fall.
The Fund will also provide support to a range of community projects with further announcements to be made shortly.
The Fund is one part of a suite of measures I announced on 29 May to honour the memory of Larry Knight and to help Beaconsfield get back on its feet.
The other measures include $1 million to establish a Larry Knight equity scholarship at the University of Tasmania and tax deductibility to the AWU Beaconsfield Miners' Support Fund which has been provided. As foreshadowed the Commonwealth will contribute $25,000 to the Fund.