August Schmidt Foundation
The August Schmidt Foundation was established on April 25, 1962 by IG Bergbau und Energie as a foundation under private law with an initial foundation capital of 250,000 DM . The reason for this was the mining accident at the Luisenthal mine in Saarland on February 7, 1962, in which 299 miners were killed. The foundation decision by IG Bergbau und Energie took place immediately afterwards on February 12, 1962. The foundation's initial task was to provide financial support for the orphans of accident miners in their training. Since 1967, this support has also been granted to orphans of miners who have died as a result of accidents or silicosis , and since 2000 to those orphans who have died from similar occupational diseases.
The foundation is named after August Schmidt , who founded the Industry Association IV Mining British Zone in 1946 , from which the IG Bergbau und Energie emerged.