Lake Cowal Foundation (LCF)
Lake Cowal Foundation Limited (LCF) is a not-for-profit Environmental Trust established in June 2000. Its primary goal is to protect and enhance Lake Cowal, a nationally significant wetland located 45 km north of West Wyalong New South Wales. The Lake Cowal Foundation is primarily sponsored through a negotiated royalty from the Barrick Cowal Gold Mine, for the life of the gold project. During the operational life of the mine, payments exceeding $2 million are expected to be made to the Lake Cowal Foundation. Although largely funded by Barrick Cowal Ltd, the Foundation also attracts external funding and works with a range of other groups and organisations.
Presently the LCF have been involved with the development of 31 projects with 39 project partners and the participation of the local community. The total value of projects is estimated in excess of $9,160,000.00 in July 2009. This value includes the significant “in-kind” contributions of both time and labour made by the local community and time contributions of the Lake Cowal Foundation staff.
The current members of the Foundation include the Total Environment Centre, National Parks Association, Nature Conservation Council and Barrick Australia Limited. The Lake Cowal Foundation is managed by a Board of Directors represented by five Directors including two environmental NGO representatives, a local landholder representing the Bland Shire Community, one independent scientist and a representative from Barrick.