SSC CEO Fred Arendse
Photo by: Creamer Media's Marleny Arnoldi
Diversified investment group Siyakhula Sonke Empowerment Corporation (SSC Group) CEO Fred Arendse on September 12 officially inaugurated the Junior Mining Council (JMC), which will exclusively represent the needs of emerging mining companies in South Africa.
The board members of the voluntary entity comprise Arendse, former Department of Mineral Resources and Energy director-general Advocate Thabo Mokoena, labour representative Jimmy Gama and financial and mining executive Martin Schermers.
The aim of the JMC is to give junior miners a voice and to open doors to more opportunities for them to grow, Arendse highlighted, adding that the council would also seek to ensure better engagement between stakeholders such as government and funders.
Notably, the JMC will launch an early-stage development fund for mining companies to access financing, which is often cited as a major obstacle for junior miners.
Membership of the council is open to all emerging and junior mining companies, including exploration companies, as well as professional bodies, suppliers and contractors in the mining sector.
Arendse pointed out that the JMC would complement the efforts of existing industry bodies such as Minerals Council South Africa and does not intend to compete with any industry body.
He added that the unique needs of the junior mining industry had remained largely unaddressed over the years, which, in the context of increased global demand for minerals and metals for green technology, needed to change.
The JMC plans to work with partners such as the Black Business Council (BBC) and the Progressive Professionals Forum to drive actionable programmes for impact in the mining industry, with inclusivity and collaboration being top of mind.
The council will also help to improve the environmental, social and governance credentials of junior miners, as well as drive skills development.
The council’s core values are inclusivity, integrity, ethics, innovation and collaboration.
As a guest speaker at the launch, BBC Built Environments CEO Gregory Mafokeng said the voice of junior mining had long been missing in the country and that the mining sector would not grow sustainably and to its true economic potential if it was owned by a handful of multinationals.
He said he hoped the JMC would help address the issue of illegal mining in the industry and advance broad-based black economic empowerment among its members.
Overall, he expressed confidence that the JMC would help to improve socioeconomic justice in industry, with the right partners and commitment.
Mokoena agreed that, with $2.5-trillion of mineral reserves in South Africa, the general mining sector’s contribution could be greater than the current 8% it contributed to gross domestic product.
Arendse concluded that the JMC would soon establish subcommittees to perform specific functions or address the needs of the wider member corporations as they manifested themselves.
He encouraged companies to join the council by visiting https://jmcouncil.org/ and emailing info@jmcouncil.org.