Junior Mining Exploration Fund (JMEF) 2024 for South African Mining Enterprises

Junior Mining Exploration Fund (JMEF) 2024 for South African Mining Enterprises. Apply below.

When is Application Deadline:

12th July 2024

The Fund will have three Funding Calls.

In the event that the Fund meets its goals in Phase One, the Parties will carry over the Fund’s objectives into Phase Two by establishing a new, independent fund in which they will invest alongside any additional third-party investors.

Tell Me About Award:

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

OBJECTIVES 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

Type:

Entrepreneurship, Grants

Who can Apply?

• 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

How Many Awards?

Not specified

What is the Benefit of Award?

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

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

Visit Award Webpage for Details