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Assessing and promoting civil and minority rights in South Africa.

[Source: BizNews by David Christianson.]

The Australian Stock Exchange (ASX) has 578 listed mining companies, well over 500 of them juniors. Canada’s Toronto Stock Exchange (TSX) has over 200 junior miners. At the other end of the scale, the Johannesburg Stock Exchange (JSE) has 43 listed mining companies of which perhaps 24 qualify as juniors.

The current mining charter process appears to be proceeding in complete ignorance of both the different needs of junior miners and the unique importance of the sector. For juniors are not just mining companies that haven’t yet become big. They have a very specific niche and function and are the essential players in exploration and development.

It is overwhelmingly junior miners who find new resources. They accounted for over 70 percent of all gold discoveries made between 1950 and 2016, according to MinEx Consulting. Beyond that, it is mostly juniors who drill and scope discoveries to work out how profitable they will be and how best to mine them. Only after this work is done is it time for the big boys – who are probably better at finding economies of scale and squeezing out production efficiencies – to buy in.

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South Africa at a Glance
57 700 000 (mid 2018 estimate)
4.0% y/y in January 2019 (CPI) & +4.1 y/y in January 2019 (PPI)
1.4% q/q (4th quarter of 2018)
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