Anglo American board donates portion of pay to covid-19 fight

Bathopele mine in South Africa (Image: Anglo American Platinum)

Anglo American (LON: AAL) announced on Monday that its board of directors has agreed to donate 30% of their salaries for three months to covid-19 related charities or funds.

Anglo American and De Beers also announced additional donations of $2 million to South Africa’s Solidarity Fund.

Anglo also donated $1 million to the Oppenheimer family’s South African Future Trust, which has been established to support small and medium-sized businesses through the crisis.

“Our 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,” Anglo American CEO Mark Cutifani, said in the media release.

Anglo American has already donated $25 million to covid-19 causes and said on Monday its foundation would match employee charity donations up to an initial $1 million.

The company recently announced that South Africa’s 21-day lockdown to slow the spread of the coronavirus will impact its iron ore and coal guidance for 2020.

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