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Tuesday, 26th July 2005 (4418 views)

Gold companies have come together as part of a new initiative designed to alleviate poverty and promote sustainable development.<br/><br/>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.<br/><br/>The scheme is designed to ensure sustainable development in Africa, with a long term view to expanding the initiative to other developing markets.<br/><br/>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.<br/><br/>Jessica Cross, CEO of MineLife, said that the pooling of resources between the companies would better serve sustainable development and alleviating poverty.<br/><br/>“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.<br/><br/>“To this end it will act as the facilitator between aid agencies and mining companies, to match the requirements of the parties.”<br/><br/>“It will also ensure the correct and properly audited application of funs, and the appropriate management of projects.”<br/><br/>“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.”<img alt="track" src="http://feeds.directnews.org.uk/feedtrack/dn.gif?feedid=196&itemid=15011065"/>

 

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