11 Feb DMPR and IDC Junior Mining empowerment drive draws R600m from Anglo
10 February 2026
Cape Town – Two years into its launch, the Junior Mining Exploration Fund (JMEF) is beginning to make considerable impact on the local mining front.
Established with an initial R400m capex, the JMEF is a joint mining exploration fund managed by the Industrial Development Corporation (IDC), the Department of Minerals and Petroleum Resources (DMPR) with the Council for Geoscience (CGS) providing oversight and technical support in evaluation of applications.
Among other objectives, the fund seeks to empower South African junior mining businesses with funding to enable them to conduct exploration and prospecting work – this is part of government’s efforts to promote economic inclusion and supporting equitable economic growth. As part of the terms for funding, successful applicants receive non-repayable, convertible grants. Funds disbursed to recipients are convertible to equity or profit share upon successful discovery of an ore body.
Allocated R160m in the first window of applications which opened in June 2024, eight junior mining entities out of 117 applicants were selected for funding to advance geological mapping and other exploration activities. The scope of the first window was narrowed to include copper, nickel, lithium, graphite and rare earths. Following on the success of the first window, mining giant Anglo has formally committed R600m to the JMEF to enhance its objectives.
Speaking during an exploration investment event hosted by the Department of Minerals and Petroleum Resources (DMPR) at the ongoing Mining Indaba, IDC CEO Ms Mmakgoshi Lekhethe lauded Anglo for its decision to support the fund stating that private sector led partnerships were critical to transforming and unlocking the potential of South Africa’s mining sector.
“As part of our mandate to support equitable economic growth, transformation and promote economic inclusion, the IDC and the DMPR each contributed R200m to establish the JMEF. For us, Anglo’s financial commitment to the fund validates our role in derisking critical sectors of our economy,” said Lekhethe. With an exposure of more than R42 billion, mining ranks as one of the most critical sectors in the IDC portfolio.
Director General, Mr Jacob Mbele praised Anglo for its commitment to the JMEF stating that the mining conglomerate’s support demonstrates the standing commitment empowering junior miners and fueling exploration in our mineral sector. “Anglo’s partnership is a clarion call to private sector to similarly support to the JMEF,” said Mbele adding that he was confident that more private sector led companies will emulate Anglo’s gesture.
In addition to supporting junior miners with prospecting work, Mbele added that this fund forms part of South Africa’s mineral exploration strategy whose objective among others is to attract exploration investment, reignite mineral development, accelerate new mineral discoveries while encouraging optimal utilisation of the country’s mineral resources.
“Working alongside the funds existing partners – the DMPR, IDC and CGS – our shared ambition is to evolve this initiative into its next natural phase enabling not only Anglo American but many others to participate in and benefit from junior exploration across the country – including possibilities of being equity partners with juniors to discover South Africa’s next world-class mines,” said Anglo American CEO Duncan Wanblad.
Following success of the first window, the IDC and DMPR opened the second window whose scope was broadened to include applicants seeking funding in other mining sectors. The revised terms of reference (TOR) in the new window state that applicants:
- Must be Junior Miners with a valid prospecting or mining right
- Applicant’s maximum requirements should not exceed R50 million
Other TOR terms require applicants to use funding for the following activities funds:
- Early-stage discovery exploration activities (detailed activities to be outlined by CGS and agreed between all parties). Example of services that can be considered by the fund:
- Drilling and logging
- Rock sample analysis
- Geophysics surveys
- Geochemistry studies
- Geo-Tech assessment
- Geohydrological studies
- Environmental studies
- Other requisite geo expertise that may include data interpretation and consolidation into a Competent Persons Report (CPR).
Advanced exploration activities (detailed activities to be outlined by CGS and agreed between all parties). Examples include:
- Further Resource Definition
- Geotechnical Studies
- Metallurgical Testing
- Environmental Impact Assessment
- Permitting and Regulatory Compliance
- Feasibility Studies
