Tuesday, 26th July 2005 (3243 views)

Gold companies have come together as part of a new initiative designed to alleviate poverty and promote sustainable development.

A joint venture between Virtual Metals, Barrick Gold Corporation, Gold Fields Limited and Harmony Gold Mining Limited is underway to promote the scheme in the field of mineral extraction.

The scheme is designed to ensure sustainable development in Africa, with a long term view to expanding the initiative to other developing markets.

The MineLife project has the aim of promoting socio-economic development in mining areas with those behind the plans hoping to channel aid to those most in need more efficiently.

Jessica Cross, CEO of MineLife, said that the pooling of resources between the companies would better serve sustainable development and alleviating poverty.

“MineLife’s core aim is to attract co-partner donor funding to augment existing and new sustainable expenditure on the part of mining companies, on an equal partnership basis,” she said.

“To this end it will act as the facilitator between aid agencies and mining companies, to match the requirements of the parties.”

“It will also ensure the correct and properly audited application of funs, and the appropriate management of projects.”

“In addition, it will provide an information and communication conduit through which successful templates and project structures can be shared between alliance members within MineLife.”

 

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