Astron Energy has received a share of $25m which Glencore has made available to its business operations across the globe to support efforts in dealing with Covid-19. The money is part of a global Community Support Fund launched by Glencore, Astron Energy’s major shareholder.
Astron Energy CEO Jonathan Molapo says the fund is designed to be flexible and responsive, and to provide both immediate and longer-term relief in areas where help is most needed; “The initial focus, in keeping with WHO guidelines, will be to assist local health care authorities and community organisations with virus testing; prevention and protection; and food provisions in disadvantaged environments near to our operations. We are currently finalising the channels we will use.”
In allocating this funding, Astron Energy aims to empower organisations that are already active in bringing about relief and support during the ongoing Covid-19 crisis.
Molapo says the Glencore Community Support Fund is a demonstration of both the value of a major global shareholder and the power of pooling resources in the fight against the global pandemic.
Oil major Astron Energy was formed in 2018 as a result of the sale of Chevron’s majority shareholding in the South African entity, which includes an oil refinery in Cape Town, a lubricants plant in Durban and a network of over 800 Caltex-branded service stations.
Click here, to learn more about the Glencore Community Support Fund.