Our
Funder

MIT was established in 1995 with a mandate from NUM to become a wealth-creating vehicle for assisting union members in the mining, construction, energy, metal, and allied sectors and supporting their family members and respective communities.

MIT is the sole shareholder of two business entities: The Mineworkers Investment Company (MIC) and Numprop (Pty) Ltd. Any dividends received are ploughed into the trust’s programs and operations.

NUM appointed MIT in 2016 to receive dividends from Rand Mutual Assurance (RMA).

MIT also owns shares in the FirstRand Empowerment Trust, which includes First Rand, Discovery, and Momentum. MIT is part of the BEE consortium with Kagiso Trust, Women Development Bank, and First Rand Employees.

However, the Trust, from time to time, supports other projects as mandated.

MIT’s formation of the Mineworkers Investment Company (MIC) in the same year has been critical to the Trust’s success, providing it with endowments of R650 million since its inception.

For 29 years, MIT has aimed to add socio-economic value by implementing business incubation, enterprise development projects, education, and skills development. As history has shown, MIT has achieved this with equanimity and supports these worthy beneficiary organisations:

• Mineworkers Development Agency (MDA)
• JB Marks Education Trust Fund
• Elijah Barayi Memorial Training Centre (EBMTC)
• Sam Tambani Research Institute (SATRI)

SATRI is the latest addition to the organisation. It is a research arm that focuses on issues such as living wages and the effect of minimum wage on the lives of people in the mining community. Other issues include mine closures and their implications.

Through its various arms, MIT enables communities to enjoy self-sustainability and prosperity. Empowering communities delivers multiple benefits, which in turn maximize employment opportunities.