Sustainable Community Development
Compañía Minera Antamina Formalizes the Fondo Minera Antamina
This case study was originally published in our .
In December of 2006, Compañía Minera Antamina S.A. signed a formal agreement with the Peruvian Ministry of Energy and Mines to establish a sustainability fund as part of the government’s nationwide collaborative effort to vastly improve living conditions throughout the country. Antamina’s contribution for 2006, to the Fondo Minera Antamina (FMA), was approximately US$65 million, which amounted to 3.75% of operating profits, and will have a significant impact on the future of the Ancash Region. The FMA will be invested in four major areas:
- Nutrition and health (strengthening of technical capabilities and improvement of health centres)
- Education (training and infrastructure improvement)
- Productive development (access to markets, business management, and access to the financial system)
- Institutional strengthening (training of local and regional government officers and citizens in general)