Socio - Economic Contribution
Socio-Economic Development Contributions means monetary or non-monetary contribution implemented for communities, natural persons or groups of natural persons that benefit Black People.
Socio-Economic Development Contributions consist of monetary or non- monetary contributions actually initiated and implemented in favour of beneficiaries by a Measured Entity with the specific objective of facilitating income generating activities for targeted beneficiaries.
We establish participatory processes to identify socioeconomic development programs and investments that can provide long-term benefits beyond the life of the mine.
We also create economic benefits directly in host countries and communities through wages, local procurement, education, training, taxes and royalties paid to governments, and infrastructural improvements.
PLANS, PROGRAMS & INITIATIVES
- Participatory processes such as baseline assessments conducted jointly with communities help us understand the existing social context, our operations’ actual and potential impacts, and community needs and interests.
- Our programs and initiatives stem from communities’ feedback. We respect their culture and beliefs to make those programs thrive.
- Our economic development projects are designed to create sustainable economic opportunities by supporting local families or groups with alternative incomes to mining, such as animal husbandry, agriculture, tourism, or manufacturing.
- Local procurement initiatives to engage with and build the capacity of local suppliers aim to create indirect employment opportunities for community members and local businesses.
The objective of Socio-Economic Development Contributions is the promotion of sustainable access for the beneficiaries to the economy. Socio-Economic Development Contributions commonly take the following forms:
(a) development programmes for women, youth, people with disabilities, people living in rural areas;
(b) support of healthcare and HIV/AIDS programmes;
(c) support for education programmes, resources and materials at primary, secondary and tertiary education level, as well as bursaries and scholarships;
(d) community training; skills development for unemployed people and adult basic education and training; or
(e) support of arts, cultural or sporting development programmes.
Our Technical Compliance Services are available to guide members in understanding the concept of Socio-Economic Development.