Anglo American announces substantial investment in communities and the environment in Brazil
12 August, 2008
Anglo American is pleased to announce a substantial commitment to invest $92 million in local communities and biodiversity projects in Brazil, following the completion of the transaction to acquire a controlling shareholding in the Minas-Rio iron ore project and the Amapá iron ore system.
The details of the investments are being determined, but Anglo American will invest a total of $72.5 million for the benefit of communities in the states of Amapá, Minas Gerais and Rio de Janeiro over a 10-year period from 2009. Anglo American will use its leading Socio-Economic Assessment Toolbox (SEAT) process to work with local communities to identify their priorities and needs and to build their capacities in order to provide sustainable benefits for the long term. Wherever possible, Anglo American aims to work in partnership with community organisations, NGOs and relevant government agencies.
In addition, Anglo American will spend a total of $19.5 million over five years, to plant approximately 1,000 hectares of tree seedlings in the state of Minas Gerais every year over a five year period from 2009. Drawing on the expertise gained from its global partnership with Fauna & Flora International, Anglo American will develop the plans for this considerable reforestation project to ensure its optimal outcome.
Cynthia Carroll, CEO of Anglo American, said, “I am delighted that we are in a position to make this very significant social and environmental investment in Brazil. These truly beneficial contributions build upon Anglo American’s established track record of operating to the highest international standards, ensuring that our activities enable benefits to be enjoyed by our host communities and countries well beyond the life of the mine.”