South Africa has received 115 applications from mining stakeholders seeking funding from the country’s Junior Mining Exploration Fund.
With the first call for applications launched in June 2024, the R400 million ($22.4 million) fund aims to support junior and emerging mining companies in the copper, lithium, rare earths and graphite sectors.
The fund’s rollout “is in full swing,” said Gwede Mantashe, South Africa’s Minister of Mineral Resources and Petroleum earlier this week, with the Department of Mineral Resources and Energy conducting due diligence on all applications received.
“The outcome of this process promises the discovery of new mines, thereby reinforcing South Africa’s vast potential in these essential minerals,” added Mantashe.
The Minister encouraged fund managers and investors to contribute to the fund, emphasizing its role in driving growth within South Africa’s mining industry.
South Africa is adopting a new digital licensing system to ensure efficient and transparent licensing of mining contracts and tenders, set to launch by June 2025. The country is also developing a dedicated Critical Minerals Strategy to maximize the value of its energy transition minerals and metals.
