IDC 2024 Junior Mining Exploration Fund for South African Mining Enterprises: (Deadline 12 July, 2024)

Objrctives and Fund Type 

The Fund is established for the following objectives:

• to assist qualifying enterprises in the mining industry to conduct prospecting work
• to increase Black Junior Miners’ access and licence to mine ore bodies
• to promote economic inclusion to support equitable economic growth

The Fund will provide grant funding which is convertible to equity when a viable ore body is discovered. The adjudication committee will determine the rate of conversion from grant to equity but this will be limited to 49%. The Fund will not offer any Grant Funding for the prospecting of diamonds

About Industrial Development Corporation (IDC)

The Industrial Development Corporation (IDC) of South Africa Limited was established in 1940 through an Act of Parliament (Industrial Development Corporation Act, 22 of 1940) and is fully owned by the South African Government. IDC priorities are aligned with the national policy direction as set out in the National Development Plan (NDP), Industrial Policy Action Plan (IPAP) and industry Master Plans. Our mandate is to maximise our development impact through job-rich industrialisation, while contributing to an inclusive economy by, among others, funding black-owned and empowered companies, b……

Junior Mining Exploration Fund

Aim and Benefits of Junior Mining Exploration Fund

The Fund will provide grant funding which is convertible to equity when a viable ore body is discovered. The adjudication committee will determine the rate of conversion from grant to equity but this will be limited to 49%. The Fund will not offer any Grant Funding for the prospecting of diamonds

Requirements for Junior Mining Exploration Fund Qualification

• Be a Junior Miner
• Be a South African registered juristic person
• Be domiciled in South Africa
• Have a valid prospecting licence
• The applicant must be at least 51% black-owned

Application Deadline

July 12, 2024

How to Apply

PLEASE NOTE THE FOLLOWING IMPORTANT POINTS:

• Only applications submitted to jmef@idc.co.za (or physically delivered to IDC Head Office) will be accepted.
• All applicants who don’t have access to email need to consult the IDC Regional Offices for assistance in submitting their applications via email.
• Applications will open on 31 May and will close on midnight of 12 July 2024.
• Only applications from junior miners that are more than 50% black-owned will be considered.
• Applicants must be in possession of a valid prospecting right.
• Only exploration for the following minerals will be considered for this call:
  • Copper-Nickel
  • Graphite
  • Lithium and Rare-Earth Elements

For more details, visit OFFICIAL LINK