The mining industry received a R1 billion boost today with the launch in Johannesburg of the New Africa Mining Fund (NAMF), a Private Equity Investment vehicle focussing on deeloping the junior mining opportunities on the African continent. The NAMF is an outcome of the Bakubung Initiative, an industry stakeholder forum established in 2000, to develop effective and practical solutions to address challenges facing the South African mining industry. The South African government, through the Department of Minerals and Energy, has consistently supported the development of the Fund and has contributed to the formulation of its character. The local mining industry played an instrumental role in facilitating the development of the Fund.
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