MIT was established in 1995 with a mandate from NUM to become a wealth-creating vehicle to assist retrenched workers in the; mining, construction and energy sectors and also provide support to their family members and respective communities.
The Mineworkers Development Agency (MDA), the JB Marks Education Trust Fund (JBM) and the Sam Tabani Research Institute (SATRI) are the primary recipients of grants from the Trust. However, the Trust can and may from time to time support other projects as mandated. The Elijah Barayi Memorial Training Centre is a self-sustainable non-profit organisation but remains part of the MIT Family. MIT is the sole shareholder of two business entities; The Mineworkers Investment Company (MIC) and Numprop (Pty) Ltd (Numprop), any dividends received are ploughed into programmes and operations of the trust.
To provide sustainable funding to MIT beneficiaries in order to improve the quality of life of NUM members, dependents and the communities..
“We are happy to confirm that the MIT is still on course to fulfil the mandate given to the trust through the trust deed.”
The trust has disbursed just under R500 000 000 to its beneficiaries since inception.We are very happy with the performance of our beneficiary organisations.We have produced more than 1000 graduates through our bursary scheme under JB Marks.We have managed to create about 200 000 livelihoods through the MDA programmes since establishement.
Nelson Mandela Day
MIT and his related entities engage on an annual basis in annual Nelson Mandela Day activities to support needy communities.
To date, we have supported several communities in Rustenburg in the North West province, Belfast in Mpumalanga, Port Elizabeth in the Eastern Cape and Nyanga in the Western Cape..
The financial stability of the trust remains steady and we are grateful to the MIC and FRET for the sustained dividends that we receive from them.We have been appointed by NUM to be the beneciary of the Rand Mutual Assurance, we anticipate receiving more dividends from them.
Interesting Fact: MIC has transferred R413 million in dividends to MIT since 1995
No 3 Rissik Street, Cnr Albert Street
Alris Building, 2nd Floor, Johannesburg 2000
P O Box 32202