Ciaran Ryan
3 minute read
13 Oct 2020
8:43 am

Mine exploration gets some love

Ciaran Ryan

FTS model allows the exploration company to raise finance through the issue of shares, and pass its tax benefit on to the taxpayer.

Employees have been forced to work beyond their shifts with no additional pay at cobalt and copper mines. AFP/File/MARC JOURDIER

It’s astonishing how fast things can change. A year ago, mining exploration, while not exactly dead, was gasping for air. “There’s no reason why SA should not account for a far larger share of global investment in mineral exploration,” says Errol Smart, MD of junior miner Orion Minerals, which has invested R450 million over the last five years on the Prieska Copper-Zinc Project in the Northern Cape. Smart was speaking at the Joburg Indaba last week. This is a bold statement, given the wholesale desertion of SA as an exploration venue in the last 10 years. BEE SA has among...