Retail investors to the rescue?
Copper mining in Northern Cape gets boost from ‘nurses and train drivers’, among others
For a resource economy it’s curious there’s been so little mineral development by so-called junior miners in South Africa. However, a relatively minor capital raise in July by Orion Minerals, a junior miner that is reopening copper workings in the Northern Cape, is creating a welcome ripple in the market.
That’s because most of the R44m procured — raised through a share placement — was from retail investors, a poorly accessed corner of South Africa’s investment universe. “Train drivers and nurses put in R1,000 to R2,000,” says Paul Miller, a former resources banker involved in the transaction. “It’s not a lot, but it shows people want to be involved in the economy.”..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.