TFM paid approximately USD 987 million to the Public Treasury
Tenke Fungurume Mining (TFM), situated over 190 km from Lubumbashi, the capital of Haut-Katanga province in the southeastern Democratic Republic of Congo (DRC), has made significant financial contributions to the Public Treasury and various public administrative services, totaling around $987 million.
As detailed in the 2022 environmental, social, and governance report released on October 31, 2023, TFM disclosed its substantial fiscal support to the DRC, amounting to a cumulative sum of $4.768 billion.
This substantial contribution encompasses diverse components such as income taxes, royalties, customs duties, and taxes related to employee wages along with their social security obligations.
The report further illustrates TFM’s commitment to community development, with investments totaling $265 million since 2006, of which $31.97 million was allocated in 2022 alone.
This dedicated fund for community social projects is administered collaboratively by representatives from Tenke Fungurume, the provincial government, and TFM.
In addition to financial support, TFM’s report underscores efforts to enhance employee relations and engagement. Notably, in 2022, TFM revised complaint procedures and provided extensive training to employees and contractors, aiming to bolster their familiarity with available grievance mechanisms.
Regarding complaints received by TFM in 2022, approximately 46% pertained to relocation issues, while 27% were associated with property damage.
This upsurge is attributed chiefly to the expansion of TFM’s operations and its consequent enlarged operational footprint, now encompassing a broader area.
TFM’s comprehensive report not only highlights its significant fiscal contributions to the DRC but also underscores its commitment to community development and enhancing internal processes for the welfare of its employees and the regions it operates in.
