DMRE, IDC establish Junior Mining Exploration Fund
The Department of Mineral Resources and Energy (DMRE) and the Industrial Development Corporation of South Africa (IDC) have signed a memorandum of agreement officially establishing the Junior Mining Exploration Fund.
The establishment of this fund forms part of South Africa’s mineral exploration strategy. The fund’s main objective is to enable eligible South African junior mining enterprises to access funding to conduct prospecting work, increase access to mine orebodies and promote economic inclusion to support equitable economic growth.
The main qualifying criteria require applicants to comply with the South African mining regulatory requirements, including, but not limited to, the provisions of the Mineral and Petroleum Resources Development Act, the National Environmental Management Act and the National Water Act.
“We can’t overstate the significance of this industry to our economy. Mining is not only the backbone of our economy but is the largest employing sector in this country.
“Our exposure has informed us of the many challenges facing emerging black-owned mining companies that are looking for a foothold into this sector. Exploration costs can be onerous on small mining firms and, therefore, it is our hope that the fund will help alleviate the challenges facing junior mining companies,” said IDC COO Joanne Bate.
The fund will be administered and managed by the IDC while the DMRE, supported by the Council for Geoscience, will determine the minerals whose exploration can be funded through this initiative.
The DMRE and the IDC are finalising modalities as to when the first application window to call for qualifying companies to submit applications for consideration will be made.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation