REG - Anglo American PLC - Anglo American agrees sustainability-linked loan

Anglo AmericanAnnouncement

09/06/2022 08:15

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RNS Number : 1715O  Anglo American PLC  09 June 2022

 9 June 2022
 Anglo American agrees sustainability-linked loan with International Finance
 Corporation

Anglo American has signed a $100 million 10-year loan agreement with the
International Finance Corporation (IFC) linked to the delivery of
sustainability goals that are integral to Anglo American's Sustainable Mining
Plan. This sustainability-linked loan is IFC's first in the mining sector and
is understood to be the first in the mining sector globally that focuses
exclusively on social development indicators.

 

The specific goals tied to the loan agreement are aimed at supporting
community development in rural communities close to Anglo American's mining
operations across South Africa, including by promoting the creation of jobs as
well as improving the quality of education for more than 73,000 students.

 

Stephen Pearce, Finance Director of Anglo American, said: "Our Sustainable
Mining Plan has a set of ambitious global goals relating to delivering a
healthy environment, creating thriving communities, and being recognised as a
trusted corporate leader. We designed our goals to challenge us to lead and
innovate in how we can best deliver meaningful and enduring value to society,
and particularly to those nearest to where we operate. We are delighted to now
link some of our education and job creation targets to this loan as an
additional demonstration of our commitment to deliver real and tangible
benefits for our host communities."

 

Anglo American's Sustainable Mining Plan includes targets to support schools
in our host communities to perform within the top 30 percent of state schools
nationally and to create or support three offsite jobs for every onsite job at
our operations by 2025.

 

Jonathan Samuel, Anglo American's Group Head of Responsible Business
Partnerships, said: "To achieve our education target, we will aim to
strengthen the public education system by training educators, practitioners,
and school management teams, and upgrade basic school infrastructure and
equipment including providing Wi-Fi and computers at over 100 primary and
secondary public schools in South Africa. We are already supporting more than
73,000 students from early childhood development centres, primary schools and
secondary schools, with more children to benefit in Phase 2 of the programme.
To achieve our livelihood target we plan to provide mentorship, capacity
building, skills development and access to finance to small businesses in the
mining value chain and in other sectors, with a focus on women and young
people. Since 2018, we have supported over 13,500 jobs and facilitated ZAR 430
million of loans to small businesses in South Africa through Anglo American's
Zimele Loan Fund."

 

Anglo American has committed to contributing additional funds to agreed social
causes if it falls short of fully achieving its education and livelihood
targets under the terms of this loan.

 

Anglo American and IFC have worked closely to ensure that a robust set of
metrics and targets are documented.

 

"Sustainability-linked financing is a powerful tool for mobilising capital and
to incentivise companies that seek to contribute to a more sustainable future.
IFC's partnership with Anglo American will support quality education for early
learners, strengthen human capital development, and boost small businesses in
South Africa," said Kevin Njiraini, IFC's Director for Southern Africa and
Nigeria.

This loan is part of a broader Anglo American engagement with IFC on local
social development, including in Peru where Anglo American, IFC and other
partners are supporting regional development initiatives.

 

 

 

 

For further information, please contact:

 

 Media                                                                              Investors

 UK                                                                                 UK

 James Wyatt-Tilby                                                                  Paul Galloway

 james.wyatt-tilby@angloamerican.com                                                paul.galloway@angloamerican.com (mailto:paul.galloway@angloamerican.com)
 (mailto:james.wyatt-tilby@angloamerican.com)

                                                                                  Tel: +44 (0)20 7968 8718
 Tel: +44 (0)20 7968 8759

                                                                                  Emma Waterworth
 Marcelo Esquivel                                                                   Emma.waterworth@angloamerican.com (mailto:Emma.waterworth@angloamerican.com)

Tel: +44 (0) 20 7968 8574
 marcelo.esquivel@angloamerican.com (mailto:marcelo.esquivel@angloamerican.com)

 Tel: +44 (0)20 7968 8891

                                                                                  Michelle Jarman

                                                                                  michelle.jarman@angloamerican.com (mailto:michelle.jarman@angloamerican.com)
 Katie Ryall

 katie.ryall@angloamerican.com (mailto:katie.ryall@angloamerican.com)               Tel: +44 (0)20 7968 1494

 Tel: +44 (0)20 7968 8935

 South Africa

 Nevashnee Naicker

 nevashnee.naicker@angloamerican.com

 Tel: +27 (0)11 638 3189

 Sibusiso Tshabalala

 sibusiso.tshabalala@angloamerican.com
 (mailto:sibusiso.tshabalala@angloamerican.com)

 Tel: +27 (0)11 638 2175

Notes to editors:

IFC-a member of the World Bank Group-is the largest global development
institution focused on the private sector in emerging markets. We work in more
than 100 countries, using our capital, expertise, and influence to create
markets and opportunities in developing countries. In fiscal year 2021, IFC
committed a record $31.5 billion to private companies and financial
institutions in developing countries, leveraging the power of the private
sector to end extreme poverty and boost shared prosperity as economies grapple
with the impacts of the COVID-19 pandemic. For more information, visit
www.ifc.org.

 

Anglo American is a leading global mining company and our products are the
essential ingredients in almost every aspect of modern life. Our portfolio of
world-class competitive operations, with a broad range of future development
options, provides many of the future-enabling metals and minerals for a
cleaner, greener, more sustainable world and that meet the fast growing every
day demands of billions of consumers. With our people at the heart of our
business, we use innovative practices and the latest technologies to discover
new resources and to mine, process, move and market our products to our
customers - safely and sustainably.

 

As a responsible producer of diamonds (through De Beers), copper, platinum
group metals, premium quality iron ore and metallurgical coal for steelmaking,
and nickel - with crop nutrients in development - we are committed to being
carbon neutral across our operations by 2040. More broadly, our Sustainable
Mining Plan commits us to a series of stretching goals to ensure we work
towards a healthy environment, creating thriving communities and building
trust as a corporate leader. We work together with our business partners and
diverse stakeholders to unlock enduring value from precious natural resources
for the benefit of the communities and countries in which we operate, for
society as a whole, and for our shareholders. Anglo American is re-imagining
mining to improve people's lives.

www.angloamerican.com (http://www.angloamerican.com)

 

 

 

 

 

Forward-looking statements:

This document includes forward-looking statements. All statements other than
statements of historical facts included in this document, including, without
limitation, those regarding Anglo American's financial position, business,
acquisition and divestment strategy, dividend policy, plans and objectives of
management for future operations (including development plans and objectives
relating to Anglo American's products, production forecasts and Ore Reserve
and Mineral Resource positions) and environmental, social and corporate
governance goals and aspirations, are forward-looking statements. By their
nature, such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Anglo American or industry results to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements.

 

Such forward-looking statements are based on numerous assumptions regarding
Anglo American's present and future business strategies and the environment in
which Anglo American will operate in the future. Important factors that could
cause Anglo American's actual results, performance or achievements to differ
materially from those in the forward-looking statements include, among others,
levels of actual production during any period, levels of global demand and
commodity market prices, mineral resource exploration and development
capabilities, recovery rates and other operational capabilities, safety,
health or environmental incidents, the effects of global pandemics and
outbreaks of infectious diseases, the outcome of litigation or regulatory
proceedings, the availability of mining and processing equipment, the ability
to produce and transport products profitably, the availability of transport
infrastructure, the impact of foreign currency exchange rates on market prices
and operating costs, the availability of sufficient credit, the effects of
inflation, political uncertainty and economic conditions in relevant areas of
the world, the actions of competitors, activities by courts, regulators and
governmental authorities such as in relation to permitting or forcing closure
of mines and ceasing of operations or maintenance of Anglo American's assets
and changes in taxation or safety, health, environmental or other types of
regulation in the countries where Anglo American operates, conflicts over land
and resource ownership rights and such other risk factors identified in Anglo
American's most recent Annual Report. Forward-looking statements should,
therefore, be construed in light of such risk factors and undue reliance
should not be placed on forward-looking statements. These forward-looking
statements speak only as of the date of this document. Anglo American
expressly disclaims any obligation or undertaking (except as required by
applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules,
the Disclosure and Transparency Rules of the Financial Conduct Authority, the
Listings Requirements of the securities exchange of the JSE Limited in South
Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian
Stock Exchange and any other applicable regulations) to release publicly any
updates or revisions to any forward-looking statement contained herein to
reflect any change in Anglo American's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based.

 

Nothing in this document should be interpreted to mean that future earnings
per share of Anglo American will necessarily match or exceed its historical
published earnings per share. Certain statistical and other information about
Anglo American included in this document is sourced from publicly available
third party sources. As such it has not been independently verified and
presents the views of those third parties, but may not necessarily correspond
to the views held by Anglo American and Anglo American expressly disclaims any
responsibility for, or liability in respect of, such information.

 

Legal Entity Identifier: 549300S9XF92D1X8ME43

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