A new four-year Grant in Lieu agreement with Vale was approved during Monday’s city council meeting.

A joint press release from the city and the mining company states Vale has committed to twelve million dollars between this year and 2025, or three million annually.

Vale is also contributing two million dollars toward the new Thompson Aquatic Centre.

Mayor Colleen Smook says the city is glad the company recognizes the need to keep investing in Thompson.

She adds a strong Grant in Lieu contribution helps maintain city services and renew infrastructure.