Cape town: Deputy Minister of Mineral and Petroleum Resources Phumzile Mgcina has reiterated the government's stance that South Africa's mining industry is on the rise. The Deputy Minister addressed the South Africa Exploration Investment Forum, held on the sidelines of the ongoing Investing in Africa Mining Indaba in Cape Town.
According to South African Government News Agency, the Council for Geoscience (CGS) is tasked with quantifying the inherent value of South Africa's mineral wealth across a range of strategic mineral commodities. This work indicates significant untapped mineral potential, reinforcing the message that South African mining is a sunrise industry. Mgcina emphasized this point by highlighting the success of projects supported under the Junior Mining Exploration Fund (JMEF).
The JMEF is a component of South Africa's mineral exploration strategy, aimed at attracting exploration investment, reigniting mineral development, and accelerating new mineral discoveries. The first round of applications saw R160 million allocated to eligible applicants, and the second round has attracted 80 applications. Notably, a project in Bothaville, Free State, has advanced into an intensive drilling phase targeting rare earth elements and associated minerals. Additionally, two projects in the Northern Cape are scheduled to commence drilling this year, while at least four other projects are in the early stages of mapping and acquiring geophysical and geochemical datasets.
Mgcina highlighted the fund's success, with commitments growing to over R2 billion, a significant increase from the initial R400 million contributed by the department and the Industrial Development Corporation. She noted the diversity of interest in the second round of applications, which targets minerals such as Tin, Tungsten, Titanium, Uranium, Gold, Antimony, Arsenic, Fluorspar, Copper, and Lithium. Mgcina urged industry partners and investors to invest in exploration to sustain the mining sector.
The Deputy Minister also announced the launch of the Virtual Core Library by the CGS, describing it as a strategic national asset designed to transform how South Africa extracts value from its geological assets. This library is expected to advance the mining industry into an era of digital transformation by enabling the digital preservation and analysis of historical drill core. This initiative will fast-track exploration decision-making, reduce costs, and enhance South Africa's competitiveness as an exploration destination. It promises to lower barriers to entry for junior and emerging explorers, revitalizing interest in underexplored regions and safeguarding geological heritage while stimulating new exploration activity.