development in this area is the partnership with Thor Medical, which is working with Steenkampskraal and select local funders to conclude agreements that will enable the business to progress with harvesting Radium-228 for medical applications.” “The IDC’s investment is not only a financial boost but also a catalyst for broader economic benefits. Through this support, Steenkampskraal is strengthening South Africa’s industrial base, creating employment opportunities in both direct mining operations and downstream beneficiation. The Steenkampskraal project is structured as a series of interlinked phases, each designed to capture additional value by moving further downstream in the rare earth supply chain,” he added. Dr. Mathebula highlighted that South Africa’s official Minerals Beneficiation Strategy, adopted in June 2011, seeks to transform the country’s mineral wealth into a competitive economic advantage through downstream value addition. “This strategy is integrated into broader industrialisation initiatives aimed at improving export quality, creating sustainable employment, diversifying the economy, and building a knowledge-driven industrial base. “The IDC, a state-owned development finance institution established in 1940, plays a central role in promoting economic growth and industrial development in South Africa and across the continent. It provides funding to businesses and projects that expand industrial capacity, stimulate job creation, and drive economic transformation,” he concluded. n
Decline shaft headgear.
deposit offers valuable by-products that further enhance its economic potential,” Dr. Mathebula said. “A notable
DECEMBER 2025 - JANUARY 2026 | www.modernminingmagazine.co.za MODERN MINING 17
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