February 2, 2016 /3BL Media/ - In the Democratic Republic of Congo, Tenke Fungurume Mining, a Freeport-McMoRan company, has operations that generate significant economic stimulus throughout most of the Kolwezi region and into the provincial capital of Lubumbashi.
Significant indirect and induced economic impacts arise from company policy to source as many goods and services as possible from local suppliers and through the spending habits of the company’s approximately 8,000 employees and contractors.
Agriculture is the primary economic activity in the region, therefore Tenke Fungurume Mining continues to invest in agricultural development as part of its strategy to maximize local resources and knowledge, promote food security and support sustainable livelihoods beyond the life of the mine.
For the 2013-14 agricultural season, TFM’s maize credit program supported 627 maize farmers (including 161 women) in 27 villages farming 640 hectares. The maize credit program has enabled participating farmers to increase maize yields from a baseline of 0.8-1.2 tons per hectare in 2008 to an average 5.6 tons per hectare in 2014.
Tenke Fungurume Mining initiated credit support for pilot programs in goats, beans and peanuts during 2014. The pilot goat husbandry project, for example, aims to help farmers diversify their revenue sources while addressing a shortage of goats in the concession.
For much more information about entrepreneur and employment programs near the Tenke Fungurume Mining operations, see http://www.fcx.com/sd/community/econ_DRC.htm
Visit the 2014 Working Toward Sustainable Development Report for more information on all of their social, economic and environmental efforts.
KEYWORDS: Social Innovation and Entrepreneurship, Finance & Socially Responsible Investment, economic stimulus, Kolwezi, Democratic Republic of Congo, Freeport-McMoRan, Tenke Fungurume Mining, agricultural development, maize credit program, credit support, Entrepreneur