OceanaGold teams up with Grameen Australia for rags-to-riches project

MANILA, Philippines - OceanaGold Philippines, Inc. moved to diversify its social responsibility involvement by teaming up with Grameen Australia to establish a cooperative for the poor engaged in recycling clothing factory waste. The mining company donated an initial P250,000 to jump-start the cooperative project which will be sited initially in Lupang Arenda, Taytay, Rizal.

Taytay is part of the district of clothing factories where volumes of textile excesses are discarded.  These textile remnants are gathered up by the poor and recycled into rags that are widely used as cleaning materials in factories, buildings, homes, offices and other commercial establishments.

 “Rag making is a typical activity in many homes where resources are scarce in the town which gives not only cash for food on the table but also a window of opportunity for the hard working to achieve the fabled rags-to-riches dream,” commented Chito Gozar, OceanaGold senior vice-president for communications and external affairs.

Gozar said OceanaGold will provide capacity building, loan capital and market linkage to the cooperative to transform this home-based rag-making industry into a social business. Hands-on business skills training will be provided by Grameen Australia to develop the members’ business plan prior to release of their loans.

Also collective planning for organized production will be facilitated to ensure cost effective pooling of their capital, resources and marketing potential.  Grameen Australia will mentor the rag makers to ensure sound business operation and loan cycle performance.

Bradley Norman, OceanaGold country director said “to help alleviate extreme poverty we need to enhance the income of these women; through our partnership with Grameen Australia we can provide them better training, mentoring, microfinance and banking services in so doing changing their lives and the lives of their families permanently.”

OceanaGold aims to help the people of Aredang earn additional income out of trash, according to Norman, and thus contribute significantly to the government’s poverty reduction effort.  He added that the company is and has always been an advocate of social entrepreneurship, “fact is OceanaGold is also a partner of Enactus Philippines, a community of students committed to entrepreneurial action to transform lives, creating a more sustainable world.”