ANGLO American unveiled a raft of financial aid and other measures aimed at easing the impact of the COVID-19 virus including a commitment by the group’s executive – and those of its subsidiary companies – to make donations equal to 30% of their salaries for three months.
As part of the initiatives, the Anglo American Foundation has put into a motion a drive to match donations made by employees to the COVID-19 effort up to an initial maximum of $1m, thereby potentially distributing $2m in total aid.
In view of “particular hardships” in South Africa, the group announced additional donations of $2m to the Solidarity Fund established by the country’s president, Cyril Ramaphosa. A further $1m will be donated to the Oppenheimer family’s South African Future Trust which was established to support small to medium-sized businesses through the crisis.
“Our wide-ranging efforts in response to this pandemic are directed at where support is most needed, very often in terms of basic services at the local community level in remote areas around our mines,” said Mark Cutifani, CEO of Anglo American.
In a separate announcement, Anglo American Platinum (Amplats) said it would pay employees throughout the entire 35-day lockdown period imposed by Ramaphosa in terms of the country’s National Disaster Management Act.
“Thankfully, we are able to pay all employees their full fixed basic salaries, pension and medical benefits, as well as housing allowances where applicable, for the full 35 days of the lockdown period,” said Natascha Viljoen, CEO of Amplats.
Kumba Iron Ore CEO, Themba Mkhwanazi said: “We are committed to supporting government, our people and our host communities to combat COVID-19 and we believe the personal contributions will make a meaningful impact to our communities towards curbing the pandemic”.
Ramaphosa, in announcing a two week extension to South Africa’s lockdown period to April 30, announced he, his minister and their deputy ministers would give up a third of their salaries for three months with the proceeds going to the Solidarity Fund. He had called on the country’s executives to follow suit.
