Mineral Resources and Energy Minister Gwede Mantashe has announced some financial reprieve for junior mining companies, as the mining industry scrambles for investment.
Mantashe signed a memorandum of agreement with the Industrial Development Corporation (IDC) and the Council for Geoscience at the Mining Indaba on Tuesday.
The fund is expected to inject millions of rands in funding towards scaling up operations for junior miners.
Mantashe said the launch of the fund comes after ticking all the boxes, and passing regulatory hurdles.
“Through this fund, we seek to financially assist qualifying enterprises in the mining industry to conduct prospecting work, increase the junior miners’ access to mine ore bodies, and promote economic inclusion that will support equitable economic growth.”
Mantashe added that artisanal and small-scale miners would also be roped in.
“Based on the allocated budget, we intend to provide financial support to at least 13 small-scale miners. All these initiatives form part of the government’s efforts to redress the injustices of the past and accelerate the participation of previously disadvantaged people in the mainstream economy.”
-EWN
In other news – Photos: A look into Enhle Mbali’s vacation in Kenya
Jealous down, when we are to talk about people who are enjoying and living life to the fullest, definitely popular South African actress and model, Enhle Mbali is part of that list. With the year starting, she decided to kick it off with a vacation spree to different African countries, and her social media posts, show she is having a good time.
4 weeks ago, she began with Botswana, then later on jumped into Zimbabwe, and now she is in Kenya. As an African, it is good to have an experience of other cultures, and beliefs in the continent. Read More
