The Industrial Development Corporation Mining and Metals Strategic Business Unit is a governmental organisation providing direct funding to a variety of mining and metals projects.
Established in 1940 through the Industrial Development Corporation Act, the Industrial Development Corporation (IDC) is fully owned by the South African Government. Key among the Mining and Metals Strategic Business Unit (SBU) objectives is to support the development of a globally competitive mining and beneficiation industry and the metals value chain (steel, aluminium value chains), in South Africa and on the African continent. The ultimate objective is to develop large-scale industrialisation and job creation in the county and the continent.
The IDC Mining and Metals Strategic Business Unit (SBU) funds processing in the following sub-sectors of the value chain:
- Base Metals
- Precious Metals
- Industrial Minerals (limestone, aggregates)
In the metals value chain, the SBU funds the establishment of new metal processing and fabrication facilities and/or expansion of existing facilities including:
- Primary Steel Mills
- Metal Fabrication Factories
The SBU also funds strategic acquisitions of existing enterprises by Black Industrialists in the mining and metals sector.