A new fund will be launched early February to assist and empower South African junior miners. The JSS Empowerment Mining Fund has been established by Jaltech and Stefanutti Stocks to fill a void in the small scale mining sector.
“Although we will look at any qualifying junior miner, we find that the juniors who are of the greatest need are coal miners,” says Gaurav Nair, director, JSS Empowerment Mining Fund.
The fund’s target capital is R1 billion and will provide investment of between R30 and R500 million to junior miners. Qualifying miners will also receive assistance from Stefanutti Stocks who will provide contract mining and processing services. The company will also assist miners with appropriate on-demand guarantees that will vastly reduce operating and financial risks.
Not only junior minors will benefit from the fund, larger companies can invest in the fund and benefit from tax incentives and recurring B-BBEE recognition on the once-off spend.
The fund’s committee consists of various industry players with experience in geology, mining engineering, mining operations, mining investments and development, mining finance and auditing, mining contracting, and corporate and project finance.