MIT was established in 1995 with a mandate from NUM to become a wealth-creating vehicle to assist union members in the mining, construction, energy, metal and allied 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 Tambani Research Institute (SATRI) and The Elijah Barayi Memorial Training Centre (EBMTC) are the primary recipients of grants from the Trust.
The MIT also owns shares in the FirstRand Empowerment Trust, which includes First Rand, Discovery and Momentum as part of the BEE consortium with Kagiso Trust, Women Development Bank and First Rand Employees.
However, the Trust from time to time supports other projects as mandated.
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.
The MIT was appointed by NUM in 2016 to receive dividends from Rand Mutual Assurance (RMA).