The company also holds convertible debt in Minergy Ltd, the coal producer based in Medie. MDCB chief investment officer, Modise Mokone told BusinessMonitor that the company was analysing the opportunities available in critical minerals, rare earth metals and other commodities and companies in the country’s mining sector. “We are looking at investments in the battery and critical metals space as well as investments within the investees that we currently have,” he said in an interview here, on the sidelines of the Mining Indaba. “We are looking across the board to grow the portfolio which is part of our mandate. “Our mandate is to grow, optimise and diversify the investment portfolio. “From those three assets that we have, our strategy over the next five years is to significantly grow that and this will be through finding those assets locally that we can look to diversify away from the two coal and diamond asset that we have.”
By law, government is entitled to purchase up to 15% equity in any entity granted a mining licence in the country. However, the government has generally stayed clear of direct equity in mining companies although senior officials have expressed interest in entities such as Lucara. With several major mining developments gathering momentum in the country such as Khoemacau’s and Sandfire’s mines in the west as well as the resuscitated Mowana and BCL mines in the north, speculation has risen on whether government will move to take up an equity position. “We are looking across the board, engaging with all parties without speaking specifically,” Mokone said.
