Mining Indaba welcomes new empowerment mining fund to support Junior Mining Pavilion and Investment Battlefield Competition
JSS Empowerment Mining Fund to support junior mining companies; direct benefits for investors and SA economy
Supporting junior mining companies will directly benefit investors and stimulate growth in the South African economy
The organiser of the Investing in African Mining Indaba® (www.MiningIndaba.com) conference is pleased to announce that the JSS Empowerment Mining Fund has signed on as a sponsor of the new Junior Miners Pavilion, including the much anticipated Investment Battlefield Competition (http://APO.af/quNHNC).
This newly launched $75 million fund, a partnership between boutique corporate finance firm Jaltech and JSE-listed Stefanutti Stocks, offers funding for junior opencast mining companies.
“We believe that junior mines that are viable now will be very profitable when commodity price levels improve in the future,” explains Gaurav Nair, Executive Director of the JSS Empowerment Mining Fund. “Supporting junior mining companies will directly benefit investors and stimulate growth in the South African economy. And the tax benefits for investors can be quite substantial.” [Note: Making use of a section 12(J) vehicle, allows all investors to claim 100% of their investment as a deduction from taxable income in the year of investment. Corporate investors are able to claim 70% of the investment as B-BBEE qualifying spend on their score cards every year, for as long as they are invested in the Fund]
The sponsorship is a perfect fit for the Mining Indaba, says MD Alex Grose. “We have always focused on connecting mining companies with government and the investment community – this includes identifying and supporting the best junior mining companies.”
This year, Mining Indaba has devoted more of its resources to ensure that investment remains the overriding focus of the event. The Investment Battlefield Competition (http://APO.af/6m1B4h) will give junior mining companies the opportunity to pitch their projects to a panel of expert investors, competing for a number of prizes that will support the development of new projects. Involvement and support from the JSS Empowerment Mining Fund will take this platform to the next level.
The JSS Empowerment Mining Fund joins the Chamber of Mines of SA and the DMR in supporting the Junior Mining Pavilion and the Investment Battlefield Competition.
The first five participants announced are Bannerman Resources (Australia), Consolidated Nickel Mines (UK), Energizer Resources (Canada), IPC Coal (South Africa) and Premier African Minerals (British Virgin Islands).
For junior mining companies yet to register for Mining Indaba, signing up for the Investment Battlefield Competition is free and will grant free entry to the Indaba for the presenter of chosen competing mining companies. It is an opportunity not to be missed; see http://bit.ly/MIBattlefield for more information.
Distributed by APO Group on behalf of Mining Indaba.
For more information please contact:
Harry Chapman
Director of Content
Investing in African Mining Indaba
Harry.Chapman@MiningIndaba.com
Gaurav Nair
Executive Director
JSS Empowerment Mining Fund
Gaurav@jalech.co.za
Press inquiries contact:
Phillip A. LoFaso
Director of Marketing & Public Relations
Investing in African Mining Indaba
Phillip.LoFaso@MiningIndaba.com
Russell and Associates
Pam McLeod
Indaba@rair.co.za
More about JSS Empowerment Mining Fund:
This new $75 million fund has been jointly established between Jaltech and Stefanutti Stocks and will be managed by the companies’ combined expertise. The objective of the fund is to capitalise on the many viable opportunities to invest in junior open cast mining companies often considered too small for traditional private equity or debt funding. The current depressed resource prices creates an environment that allows investment to be made at attractive prices. The fund will invest in companies that have already completed exploration, secured licensing and entered into Offtake Agreements for a proportion of production volume. Mining operational risk is to be mitigated by contracting out the mining and processing to Stefanutti Stocks who will design and construct all plant infrastructure and be responsible for mining production.
Making use of a section 12(J) vehicle, allows all investors to claim 100% of their investment as a deduction from taxable income in the year of investment. Corporate investors are able to claim 70% of the investment as B-BBEE qualifying spend on their score cards every year, for as long as they are invested in the Fund.
About Investing in African Mining Indaba®:
Investing in African Mining Indaba (www.MiningIndaba.com) is the world’s largest mining investment conference, dedicated to the capitalisation and development of mining interests in Africa. Now in its 23rd year, Mining Indaba remains Africa’s largest mining event. Investing in African Mining Indaba, Where the World Connects With African Mining®.