INSTITUTIONAL AND LABOUR UNDERTAKINGS BY RANDGOLD CI AND THE MINING COMPANY Sample Clauses

INSTITUTIONAL AND LABOUR UNDERTAKINGS BY RANDGOLD CI AND THE MINING COMPANY. 14.1 For the duration of this Agreement, the Mining Company shall contribute to the training and advanced training of the staff of the General Directorate of Mining and Geology, for the advancement of mining and the strengthening of capacities in the departments in charge of the mining sector. 14.2 For the duration of this Agreement, the Mining Company will facilitate and finance a Social Community Development program with the purpose of making a lasting improvement to the social environment of inhabitants living in the Mining Operations area. For this purpose the Board of Directors of the Mining Company will establish an annual budget, the use of which will be defined by mutual agreement between the company and representatives of the community coming together in a local development committee and which will include a member of the Ministry of Mines. A Memorandum of Agreement shall be signed between the parties concerned to specify the terms of their cooperation.