Yahoo Finance Coronavirus: Mining bosses donate 30% of pay to COVID-19 fight
Bosses at of one of the world’s biggest mining companies have pledged to donate over $1m (£803,852)
of their pay to charities fighting the COVID-19 pandemic.
London-listed Anglo American (AAL.L) said on Monday its board and management committee would personally donate 30% of their salary and fees over the next three months to charities fighting the novel coronavirus.
The pledge amounts to just over $1m of donations. The money will be redirected to the Anglo American Foundation and charities chosen by those donating the money.
“We all applaud the heroic and selfless efforts of so many people – within our company and far beyond – to help others in times of human crisis,” Mark Cutifani, Anglo American chief executive, said in a statement.
“We are all endeavouring to play our part to address the health issues and hardships caused by the pandemic, but also to make sure our people are safe and our business is ready to support the economic recovery phase that will be so crucial in so many countries.”
Anglo American has already donated $25m to COVID-19 causes and said on Monday its foundation would match employee charity donations up to an initial $1m.
The company also announced donations to two South African charities, totalling $3m. Anglo American has a significant number of mines in South African and has one of its two global headquarters in Johannesburg.
Anglo American is one of the largest mining companies in the world, worth £19.1bn ($23.7bn). The business is the largest producer of platinum in the world and mines everything from coal and iron ore to diamonds. De Beers, the world’s largest diamond business, is a subsidiary.
Cutifani said: “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.”
Last month, Anglo American said the COVID-19 pandemic had led to slumping demand for diamonds. Orders during its second rough diamond ‘sales period’ were 28% lower than during the same cycle a year earlier.
