Tenke Fungurume Mining, a Freeport-McMoRan Copper & Gold company, contributed $3.7 million to their Community Trust Fund in 2012

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Tenke Fungurume Mining, a Freeport-McMoRan Copper & Gold company, contributed $3.7 million to their Community Trust Fund in 2012

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Tenke Fungurume Mining, a @fcx_copper company, contributed $3.7 million to their #Community Trust Fund in 2012 http://3bl.me/5kce57

Multimedia from this Release

A child uses a water well constructed with the aid of the TFM Community Trust Fund

Former school building near TFM Operations

New school building constructed with funding from the TFM Community Trust Fund

Tuesday, March 19, 2013 - 9:00am

CAMPAIGN: Freeport-McMoRan: Communities & People

CONTENT: Article

In an endeavor to better serve communities near Tenke Fungurume Mining (TFM) operations, TFM created a Social Community Fund. The Fund is designed for the primary benefit of the community members impacted by the TFM project by investing in sustainable community development projects supporting infrastructure and relevant services including health, education and agriculture.

Based on a pledge in the TFM mining convention with the Democratic Republic of Congo government, TFM contributes 0.3 percent of its annual net metal sales to the Fund. The Fund Board of Directors is comprised of two local community representatives, one representative nominated by the Governor of Katanga Province and four TFM representatives. A community Stakeholder Forum comprised of 40 community representatives provides increased community participation and input regarding project priorities, community needs, and transparency of Fund management.   Contributions commenced when mining began in 2009, and through 2011 have totaled $7.6 million.

In 2012, TFM accrued $3.7 million to the TFM Social Community Fund and a total of $11.2 million has been committed to the Fund since 2009. Since approving its first projects in Q2 2011, the Fund has approved $7 million in community development projects ranging from provision of new water supply wells and sanitation projects to construction of schools clinics, and roads.

The Fund prioritizes the use of local labor contracts, which created over 980 employment opportunities in 2012.

For further information about Freeport-McMoRan Copper & Gold Inc.’s social investment commitments, please see http://www.fcx.com/envir/comm_invest.htm

Please see the 2011 Working Toward Sustainable Development Report for more information on all of their social, economic and environmental efforts. http://www.fcx.com/envir/wtsd/pdf-wtsd/2011/WTSD_Bk_2011.pdf

Keywords: Social Impact & Volunteering | Community Trust Fund | Democratic Republic of Congo | Education | Freeport-McMoRan Copper & Gold | Health | Stakeholder Forum | Tenke Fungurume Mining | agriculture

CAMPAIGN: Freeport-McMoRan: Communities & People

CONTENT: Article