As a result of the fact that most of Wits Gold’s activities to date have been focused exclusively on exploration, and the Company’s presence in one place is limited to short periods of time, sustainable investments in community development are difficult to implement and maintain.
For this reason, Wits Gold has chosen to focus on making investments in broader socio-economic development initiatives that contribute to skills development in the minerals industry. To date these include:
The Wits Gold Women’s Trust
In line with the principles of transformation and empowerment espoused in the South African Mining Charter, the Wits Gold Women’s Trust (WGWT) was established in 2005 to promote the involvement of women in the South African mining industry.
The primary objective of the Trust is to reach a wide spectrum of women, promoting the industry as a career choice, and to provide financial assistance in the form of bursaries to those who want to study in a mining-related discipline. The main criteria for the selection of bursars are financial need and gender.
The Trust operates in ten different universities and educational facilities across South Africa, extending its reach across most of the country’s provinces, and is currently in discussion with certain universities with a view to providing additional bursaries.
| Year | Number of bursaries | Rand value |
|---|---|---|
| 2009 | 20 | 860 663 |
| 2010 | 19 | 1 054 576 |
| 2011 | 20 | 1 444 500 |
The Julian Baring Scholarship Fund
The Julian Baring Scholarship fund was created in 2000 in the name of the late international gold fund manager, Julian Baring, whose passion for mining was exceeded only by his passion for Africa.
The fund was established as a vehicle for the awarding of scholarships and financial assistance to disadvantaged students who have the desire and ability to pursue a career in the competitive and challenging environment of mining in Africa. With the support of the industry, the trustees have grown the fund substantially since its inception and are now progressing with plans to make an even greater contribution to the skills and resources available to the industry.
Wits Gold is proud to have been able to give the fund a significant boost in 2006 with the donation of one million shares in the company, equivalent to 5% in the initial equity of Wits Gold. This has provided the fund with a secure base and the means to expand its scope, in terms of the numbers of students supported, the level of their education and the geographical influence.