Anglo American (LSE: AAL) has agreed to a $100 million, 10-year loan from the International Finance Corporation in what is understood to be the mining industry’s first known sustainability-linked financing focusing exclusively on social development indicators.
Anglo American will use the funding to build its so-called Sustainable Mining Plan further. The initiative aims to support community development in rural communities close to Anglo American’s South Africa-based mining operations. The project is expected to generate jobs and improve the quality of education for more than 73,000 students.
