IDC Junior Mining Exploration Fund for South African Mining Enterprises 2024

The Junior Mining Exploration Fund for South African Mining Enterprises 2024 – The Industrial Development Corporation in partnership with the Department of Mineral Resources and Energy is initiating an exploration fund.

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

Aim and Benefits

Requirements

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