Minelife - Making a sustainable difference in Africa

Press Release

26 June 2008 - Mining industry steps up socio-economic development efforts: Delaware Street Capital joins the MineLife Alliance as an Implementing Partner

The MineLife Alliance announces that the North American-based hedge fund, Delaware Street Capital, has joined this initiative as an implementing partner to help co-ordinate and accelerate social development programmes in various emerging economies.

Six mining companies – Barrick Gold Corporation, Gold Fields Limited, Impala Platinum Holdings Limited (Implats), Harmony Gold Mining Company Limited, Platinum Group Metals and Xstrata – currently comprise the founding members of this not-for-profit alliance. In addition, the Alliance also has two implementing partners – Teba Development and the Aurum Institute, to which the VM Group and the Alliance welcomes Delaware Street Capital as the fourth.

"The fact that a North American-based hedge fund has elected to join our initiative bears testimony to the growing recognition that the socio-economic, demographic and health challenges faced by the developing world are too complex and wide-spread to be resolved by any single entity or sector, and that to make a sustainable difference to the lives of needy people living in remote rural communities, collaboration and co-operation across commercial sectors is the only viable way forward," says Pierre Lourens, Chairman of MineLife and Group Sustainable Development Executive for Implats.

"The presence of Delaware Street Capital as an Alliance partner is a significant development for MineLife. It will greatly extend the Alliance’s presence and capacity in North America, enhancing access to public donor agencies and the private philanthropic community in the USA," added Jessica Cross, CEO of MineLife.

Darin Milmeister of Delaware Street Capital sees the fund’s role in MineLife as bridging the divide between the extractive minerals and money-under-management industries. "Increasingly, wealth management is recognising its vital contribution to the drive to end poverty but, it lacks the capacity to reach effectively into needy communities. MineLife is an exciting and innovative model in which we can participate and contribute with confidence. With its collective workforce in Africa and its links to retired mine workers and their communities, MineLife has a huge social and economic footprint in Africa. On this basis, donor money can be extremely effectively leveraged in partnership with the current and future social investment activities of the individual mining members. We greatly look forward to being part of this unique initiative."

Press Release

18 September 2007 - Mining industry steps up socio-economic development efforts. Xstrata joins the MineLife Alliance

The MineLife Alliance announces that Xstrata has joined this initiative to help co-ordinate and accelerate social development programmes in the developing world.

Xstrata joins Impala Platinum Holdings Limited, Harmony Gold Mining Company Limited, Gold Fields Limited, Barrick Gold Corporation and Platinum Group Metals, bringing to six the mining company membership in this not-for-profit alliance.

The MineLife Alliance is a collaboration between the six mining companies and Virtual Metals Group and is dedicated to alleviating poverty and long-term socio-economic development. The entity coordinates aspects of partnership funding and facilitates information exchange on best practice relating to community development projects. The initial focus is in Africa, but other regions may follow.

“Collaboration and sharing of information leads to more effective implementation of the socio-economic development already being undertaken by individual mining companies,” said Jessica Cross, Founder of MineLife and CEO of the VM Group. “We are delighted that Xstrata has joined. With their global exploration and mining activities but especially in Africa, they are well placed to contribute to and benefit from the Alliance.”

Xstrata’s membership of MineLife comes with the appointment of Eric Ratshikhopha (Executive Director: Xstrata South Africa) as non-executive director to the VM Group board. “The VM Group board welcomes Eric. His depth of knowledge and experience in social development will bring considerable value to the board and how we collectively steer MineLife going forward. We greatly look forward to benefiting from his wisdom and insights,” said Jessica Cross.

“Xstrata contributes financial and other resources to development projects that offer significant development opportunities to those communities surrounding our operations and in the areas from which our labour force originates. Membership of a wider consortium offers the platform for enlarged collaboration in these initiatives,” said Eric Ratshikhopha. “We have developed successful programmes for social development through our relationships with local communities. Through MineLife we hope to contribute these ideas and also gain from the knowledge and experience of others in the group.”

Collectively the market capitalisation of the MineLife membership is currently in excess of US$112 billion. The Alliance membership has more than 156,000 people on its payroll and has the capacity to continue influencing positively the lives of more than a million people.

Press Release

9 October 2006 - Mining industry steps up socio-economic development efforts. Two new members join MineLife-International Resources Foundation

MineLife-International Resources Foundation announces that two mining companies, Impala Platinum Holdings Ltd (Implats) and Platinum Group Metals Ltd have joined this initiative to help co-ordinate and accelerate social development programmes in the developing world.

Implats and Platinum Group Metals join Harmony Gold Mining Company Limited, Gold Fields Limited and Barrick Gold Corporation, bringing to five the mining company membership in this not-for-profit alliance.

MineLife-IRF is a collaboration between the five mining companies and the VM Group and is dedicated to alleviating poverty and building long-term socio-economic development. The entity coordinates aspects of partnership funding and facilitates information exchange on best practice relating to community development projects. The initial focus is in Africa, but other regions may follow.

“Collaboration and sharing of information leads to more effective implementation of the socio-economic development already being undertaken by individual mining companies,” said Barry Aitken, Chairman of MineLife-IRF. “We are delighted that Impala Platinum and Platinum Group Metals have joined. With their exploration and mining activities in Africa, they are well placed to contribute and benefit from the alliance.”

“Implats contributes financial and other resources to development projects that offer significant upliftment opportunities to those communities surrounding our operations and in the areas from which our labour force originates. Membership of a wider consortium offers the platform for enlarged collaboration in these initiatives,” said Pierre Lourens, CEO – Impala Community Development Trust.

R. Michael Jones, President of Platinum Group Metals, stated: “Platinum Group Metals, like other mining companies, has developed ideas for social development through our relationships with local communities. Through MineLife-IRF, we hope to contribute these ideas and also gain from the knowledge and experience of others in the group.”

Collectively the market capitalisation of the MineLife-IRF membership is in excess of US$50 billion. The alliance has more than 150,000 people on its payroll and has the capacity to continue influencing positively the lives of more than a million people.