Bill Clinton and Frank Giustra Support Impoverished Mining Communities
In this article by Andy Hoffman of the Globe and Mail, we learn of an initiative to support children and small business in Peru and Columbia.
Here is the link to the original article.
From The Globe and Mail
ANDY HOFFMAN, MINING REPORTER
Mars 1, 2008:
Former U.S. president Bill Clinton and Vancouver mining magnate Frank Giustra will unveil the first initiatives of their joint philanthropy efforts at a star-studded reception in Toronto this evening, announcing $20-million (U.S.) worth of development programs in Peru and Colombia.
The duo, which formed the Clinton Giustra Sustainable Growth Initiative (CGSGI) last June, will allocate $6-million over three years toward child nutrition programs in Peru that will expand efforts funded by gold mining firms Barrick Gold Corp. et Newmont Mining Corp. Barrick spokesman Vince Borg said his company has committed $2.25-million to the child nutrition initiatives and $3.75-million to programs that help create local businesses and jobs in areas of the Andean nation close to various mining operations.
In Colombia, the CGSGI will commit $5-million toward business development programs including funding for an organic spice business in the impoverished Choco region.
The initiative, which has garnered more than $300-million in commitments to date, aims to increase social and economic development in countries where natural resources are key to the economy. Further programs in Mexico and Africa are expected in coming months.
Mr. Giustra, the son of a Sudbury, Ont. miner, made his fortune brokering resource deals, and has pledged $100-million to the initiative as well as half of his future income.
Lundin Group of Companies, headed by fellow Vancouver mining mogul Lukas Lundin, also donated $100-million through its Lundin For Africa philanthropic arm. Mexican billionaire Carlos Slim gave $100-million.
Tonight’s event, which will feature performances by Elton John and Colombian-born pop star Shakira, is expected to raise millions more. Bay Street players and mining executives have been asked to pay between $25,000 (Canadian) et $300,000 for a table.
This party will coincide with the start of the Prospectors and Developers Association of Canada conference, an annual event that brings much of the world’s mining industry to Toronto.
