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Africa|Coal|Energy|Exploration|Financial|Indaba|Mining|Resources|Technology|Operations
africa|coal|energy|exploration|financial|indaba|mining|resources|technology|operations

Lack of funding remains a big concern for coal juniors

24th May 2024

By: Sabrina Jardim

Creamer Media Online Writer

     

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Amid challenging market conditions, junior coal miners in Africa face challenges in securing funding, with about 70% experiencing constraints in exploration and production owing to insufficient financing, said coal procurement and mining development company Alpha Resources and Investments CEO Selim Kaymak, citing statistics from a Mining Technology report.

During a presentation at the Junior Mining Indaba on May 22, Kaymak discussed the implications of a challenging coal mining market for junior miners. In his presentation, he cited a Minerals Council South Africa statistic that junior coal miners are significant players in South African coal production, contributing up to 30% of South Africa’s overall output.

He posited that junior coal miners play a crucial role in meeting energy demand and supporting economic development but face numerous challenges.

“Compared to large, established miners, the scale of operations and limited resources can make it challenging to access the funding needed for expansion and development . . . Collaborating with larger coal miners can help junior miners gain access to a larger market and gain recognition,” he said.

Kaymak added that it was important for junior coal miners to explore alternative financing options for expansion and development. This could include partnerships with larger mining companies or seeking investment from private equity or venture capital firms specialising in the mining industry.

Government support through programmes, grants or incentives could further boost financial resources for juniors, he said.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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