FOR IMMEDIATE RELEASE
JUNE 10, 2022
ANGLO AMERICAN AGREES SUSTAINABILITY-LINKED LOAN WITH INTERNATIONAL FINANCE CORPORATION
LUSAKA, ZAMBIA – Anglo American has signed a $100 million 10-year loan agreement with the International Finance Corporation (IFC) linked to the delivery of sustainability goals that are integral to Anglo American’s Sustainable Mining Plan. This sustainability-linked loan is IFC’s first in the mining sector and is understood to be the first in the mining sector globally that focuses exclusively on social development indicators.
The specific goals tied to the loan agreement are aimed at supporting community development in rural communities close to Anglo American’s mining operations across South Africa, including by promoting the creation of jobs as well as improving the quality of education for more than 73,000 students.
Stephen Pearce, Finance Director of Anglo American, said: “Our Sustainable Mining Plan has a set of ambitious global goals relating to delivering a healthy environment, creating thriving communities, and being recognised as a trusted corporate leader. We designed our goals to challenge us to lead and innovate in how we can best deliver meaningful and enduring value to society, and particularly to those nearest to where we operate. We are delighted to now link some of our education and job creation targets to this loan as an additional demonstration of our commitment to deliver real and tangible benefits for our host communities.”
Anglo American’s Sustainable Mining Plan includes targets to support schools in our host communities to perform within the top 30 percent of state schools nationally and to create or support three offsite jobs for every onsite job at our operations by 2025.
Jonathan Samuel, Anglo American’s Group Head of Responsible Business Partnerships, said: “To achieve our education target, we will aim to strengthen the public education system by training educators, practitioners, and school management teams, and upgrade basic school infrastructure and equipment including providing Wi-Fi and computers at over 100 primary and secondary public schools in South Africa. We are already supporting more than 73,000 students from early childhood development centres, primary schools and secondary schools, with more children to benefit in Phase 2 of the programme. To achieve our livelihood target we plan to provide mentorship, capacity building, skills development and access to finance to small businesses in the mining value chain and in other sectors, with a focus on women and young people. Since 2018, we have supported over 13,500 jobs and facilitated ZAR 430 million of loans to small businesses in South Africa through Anglo American’s Zimele Loan Fund.”
Anglo American has committed to contributing additional funds to agreed social causes if it falls short of fully achieving its education and livelihood targets under the terms of this loan.
Anglo American and IFC have worked closely to ensure that a robust set of metrics and targets are documented.
“Sustainability-linked financing is a powerful tool for mobilising capital and to incentivise companies that seek to contribute to a more sustainable future. IFC’s partnership with Anglo American will support quality education for early learners, strengthen human capital development, and boost small businesses in South Africa,” said Kevin Njiraini, IFC’s Director for Southern Africa and Nigeria.
This loan is part of a broader Anglo American engagement with IFC on local social development, including in Peru where Anglo American, IFC and other partners are supporting regional development initiatives.
-Ends-
About Anglo American
Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive operations, with a broad range of future development options, provides many of the future-enabling metals and minerals for a cleaner, greener, more sustainable world and that meet the fast growing every day demands of billions of consumers. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and to mine, process, move and market our products to our customers – safely and sustainably.
As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and metallurgical coal for steelmaking, and nickel – with crop nutrients in development – we are committed to being carbon neutral across our operations by 2040. More broadly, our Sustainable Mining Plan commits us to a series of stretching goals to ensure we work towards a healthy environment, creating thriving communities and building trust as a corporate leader. We work together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining to improve people’s lives.
www.angloamerican.com
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
CONTACT
Enquiries
Gillian Langmead
Langmead & Baker Ltd
Tel: +260 979 060705
info@langmead.com