Eligibility Criteria for Funding:

• Be a Junior Miner
• Be a South African registered juristic person
• Be domiciled in South Africa
• Have a valid prospecting licence or mining right
• The applicant must be at least 51% black-owned

Applications will open on 30 September 2025 and will close at 17:00 on 31 October 2025.

Will there be webinars to explain the JMEF and answer questions relating to it?

Yes, please see above for the webinar information.

What is the definition of “junior miner”?

For the purposes of the Junior Mining Exploration Fund a Junior Miner is:

• A non-listed private company duly incorporated in terms of the Companies Act 71 of 2008
• The entity must possess a valid ‘Prospecting or Mining Right,’ as defined by the Mineral and Petroleum Resources Development Act of 2002. This right must have an expiration date that is at least 12 months from the closing date of the application.
• The entity must be operating in greenfield or brownfield exploration activities within South Africa
• The entity must have a combined direct and/or indirect ownership (in the form of fully voting and participating shares) by “black people” (as this term is defined in the Broad-Based Black Economic Empowerment Act 53 of 2003) of at least 51%
• The entity or any controlling shareholder (as defined in the company’s act) should not have revenue generated from other mining rights

Where can application be submitted?

Applications must be submitted via email to jmef@idc.co.za.
NB: To send larger files, please make use of Google Drive, Dropbox or OneDrive with passwords included in the email. The IDC is unable to access/open WeTransfer files.

Do you also fund exploration for coal/diamonds/any other minerals?

The current call for applications is only aimed at exploration for the following commodities:

• Tin
• Tungsten
• Titanium
• Uranium
• Gold
• Antimony
• Arsenic
• Fluorspar
• Copper
• Lithium

Will the JMEF also fund exploration in Lesotho/Botswana/other countries?

The JMEF is only for exploration within the boundaries of the Republic of South Africa.

Will the JMEF also cover mining (actual mineral extraction)?

No, the JMEF will only fund exploration activities.

We don’t have a valid prospecting or mining right – can the JMEF assist us in obtaining one?

No, the JMEF is aimed at current holders of valid prospecting or mining rights.

Will the JMEF fund the acquisition of shares in an existing mining company/buying an existing mining entity/purchasing a mine?

No, the JMEF will only fund direct exploration activities.

Will the JMEF fund the manufacture of hard rock drill bits/any other activity that supports mining and exploration activities?

No, the JMEF will only fund direct exploration activities.

Do the prospecting or mining rights apply solely to a South African registered company? If we were to obtain prospecting or mining rights from a company based in another country, would it necessitate a South African entity holding a minimum of 51% BEE ownership?

Correct, it has to be a South African registered company that is more than 50% BEE-owned

What is the total amount of the second funding call?

R240 million

How is the investment budget distributed?

Grant amounts will be between R10m and R50m per beneficiary, paid from the R250m total fund amount.

Concerning the lead applicant, is it a requirement for them to possess the prospecting or mining rights, or would it be acceptable for a joint venture to be established utilizing another entity’s right?

The lead applicant must own the prospecting or mining rights.

On what basis will the grant be converted to equity?

This will be negotiated on a case-by-case basis, based on a fair valuation of the deposit.

Are financial statements/management accounts required for a new/start-up venture?

No, financial statements/management accounts are only required for existing companies.

For enquiries, email: jmef@idc.co.za