Industry News by Nemesis

De Beers Bolsters Coronavirus Aid Package

April 22, 2020

 

De Beers and its parent company Anglo American have contributed an additional $3 million in aid to help mitigate the economic impact of COVID-19.

The donation, announced Monday, will be split between two emergency finance bodies in South Africa, which is home to De Beers’ Venetia deposit.

The Solidarity Fund, launched by the South African government last month, will receive two-thirds of the gift. The remaining $1 million will go to the Oppenheimer family’s South African Future Trust, which was established to help small and medium-sized businesses through the crisis by offering interest-free loans.

This latest round of support builds on De Beers’ previous contributions. Earlier this month, the miner donated $2.5 million to causes across Botswana and Namibia. It also announced that Debswana, its joint venture with Botswana, would make facilities available for the government to use as treatment or isolation centers.

“We are continuing to identify additional areas for monetary and in-kind support that we can provide as conditions evolve,” said Anglo American CEO Mark Cutifani. “We are all endeavoring to play our part to address the health issues and hardships caused by the pandemic.”

Image: De Beers’ sightholder operations in Gaborone, Botswana. (De Beers)

 

Source: Rapaport

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