Thebe Mining Resources represents Thebe’s most recent initiative in expanding its diverse portfolio into the mining resources sector. The company was incorporated in 2009 as a wholly owned subsidiary of Thebe, with a mandate to invest in mining and mining-related businesses across Southern Africa.

Strategic objectives
The Thebe Mining Resources goals include:

• Investing in greenfield opportunities across our chosen commodity platforms
• Partnering with mining companies to achieve the objectives of the Mineral Resource & Petroleum Development Act and the Mining Charter
• Partnering with other BBBEE groups in order to achieve critical mass
• Leveraging off the Thebe community – utilising its focused approach and experience to address critical elements
  of the Mining Charter beyond ownership, and forming strategic partnerships aimed at creating a capital pool necessary to
  unlock value embedded in South Africa’s mineral wealth

Investment approach
A typical mine lifecycle can be generally segmented into four stages along its development value curve: Exploration, Pre-Development, Development Capital Expenditure and Production.

We have clustered our investment opportunities according to two groups: greenfields and brownfields:

• Greenfields Investment opportunity targets that are not considered to be a cash-generative asset (typically comprising a single asset in the Pre-Development phase of its mine lifecycle).
• Brownfields Investment opportunity targets that are considered to be cash-generative assets (typically comprising a single asset or more, where at least one asset is at the Production Stage in its mine lifecycle, eg outright acquisition, secondary and top-up empowerment transactions).