On February 9, according to a report by MiningWeekly, the Department of Mineral Resources & Energy (DMRE) and the Industrial Development Corporation of South Africa (IDC) signed a memorandum of understanding to formally establish the Junior Mining Exploration Fund (JMEF).
　　The establishment of this fund is part of South Africa’s mineral exploration strategy. Its primary goal is to enable eligible South African junior exploration companies to access funding for exploration activities, thereby increasing the likelihood of discovering new mineral deposits and promoting inclusive economic growth and equitable development.
　　The primary qualification criterion requires applicants to comply with South Africa’s mining regulatory provisions, including but not limited to the Mineral and Petroleum Resources Development Act, the National Environmental Management Act, and the National Water Act.
　　The fund will be managed and operated by IDC, while DMRE, with the assistance of the South African Geological Survey, will identify the mineral types eligible for funding.