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Thursday, 26th July 2007 (3973 views)

The New Africa Mining Fund is to receive a funding boost in 2008, claims a report.

Developed to further sustainable junior mining in Africa, the fund is also to pursue a wider mandate next year, according to Mining Weekly.

Chief executive Arthur Mashiatshidi told an African junior mining congress: "We expect to launch the new fund in the second quarter of 2008," reports the publication.

The financial boost is reportedly motivated by the industry opportunities "that continue to increase".

Investments by the company are intended to help black economic empowerment in the junior mining sector and has invested in gold, diamond and copper-cobalt projects, among other interests.

"We have invested in a number of countries outside South Africa and met with different challenges and different degrees of success," Mr Mashiatshidi said.

Meanwhile, the chief executive officer of the Ghana Chamber of Mines, Joyce R Aryee, recently said that social responsibility initiatives from mining companies working in the country have played a valuable part in its economic growth.

 

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