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