Executive Management

South Africa’s mineral future will be shaped not only by geology, but by partnerships, capital discipline and strategic alignment. The African Exploration Mining and Finance Corporation (AEMFC) was established to secure and develop mineral resources in the national interest. After navigating a challenging operating environment, the organisation is now firmly focused on stabilisation, repositioning and restoring operational strength while building a platform for long term growth.

Our immediate priority is structured resuscitation of existing coal assets. Projects at Vlakfontein and Klippoortjie are sequenced to deliver near term margins, extend the life of mine and strengthen internal capability. Feasibility work on several greenfield projects further enhances stabilisation potential. These initiatives provide the liquidity and operational credibility required to move from recovery toward sustainable expansion. Coal remains an important component of South Africa’s energy security, and we are leveraging these assets responsibly and efficiently.

However, AEMFC’s future is not coal dependent. In alignment with the Department of Minerals and Petroleum Resources Critical Minerals Strategy, we are positioning the company to participate in manganese, iron ore, phosphates, copper and rare earth elements amongst others as these are minerals where South Africa holds a competitive geological advantage. This diversification is measured and strategic, focusing on value chains that support industrialisation, food security and the energy transition.

A key pillar of this strategy is the deliberate formation of joint ventures and partnerships, particularly with BEE mining companies. As a state-owned enterprise, AEMFC occupies a unique position: we can provide strategic credibility, regulatory stability and long-term developmental alignment, while our partners contribute agility, entrepreneurial drive and operational execution. Through structured joint ventures, third-party equity participation and aggregated supply models, we aim to unlock distressed or capital constrained assets and bring them into productive use. This partnership led model allows us to accelerate project development, broaden participation and unlock value without overextending the balance sheet.

AEMFC’s path forward is therefore clear: stabilise through disciplined execution, diversify into strategic minerals, and leverage partnerships to catalyse inclusive growth. By combining state backing with private-sector capability, particularly empowered mining entrepreneurs, we can unlock mineral value in a way that supports economic development, transformation and long term national resilience.