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
| Application Deadline | 12 Jul 2024 |
| Country to study | South Africa |
| Type | Entrepreneurs |
| Sponsor | Industrial Development Corporation (IDC) |
| Gender | Men and Women |
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 [email protected] (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
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