ARM BBEE Trust distributes R8.9 million for various community upliftment projects
10 December 2009
Patrice Motsepe, Executive Chairman of African Rainbow Minerals Limited (ARM) today announced a cash distribution of R8.9 million to the beneficiaries of the ARM Broad-Based Black Economic Empowerment Trust (the ARM BBEE Trust).
The ARM BBEE Trust received R7.6 million in 2007 and R24.5 million in 2008. To date ARM has distributed approximately R41 million to the ARM BBEE Trust.
�Despite the global recession and the challenges facing the mining industry we are pleased that we are able to continue distributing funds to our Broad Based partners and the communities living near our mines. ARM established the ARM BBEE Trust in 2006 as part of its commitment to ensure that as many of our people as possible participate and benefit from the mining industry,� said Motsepe.
The beneficiaries of the ARM BBEE Trust are the five ARM Provincial Rural Upliftment Trusts, the National Women’s Upliftment Trust, the ZCC Church Trust, the South African Democratic Teachers Union (SADTU) and National Education, Health and Allied Workers Union (NEHAWU) which together represents approximately 400 000 workers, numerous entrepreneurs, community leaders, women and youth owned SMME’s. The cash distribution will be used to build schools, ablution facilities, cr�ches, clinics, hospitals and other community upliftment projects.
For further information, please contact:
Head of Investor Relations and Corporate Development
Office: +27 11 779 1507