Junior Mining Programme (JUMP)

JUMP focuses on small and medium-sized mining companies under-serviced by the limited depth of equity capital markets and private equity in the EBRD region. Investments under JUMP will primarily target the development of deposits where critical or strategic raw materials for green and digital transition are present as part of the product mix. Other raw materials such as base metals, precious metals, etc. will be financed on a selective basis to support wider economic development. 

JUMP's objectives are fully aligned with the international efforts to secure access to critical and strategic raw materials, which have been identified as a bottleneck to the realisation of the global transition to a low-carbon economy and the rollout of zero-emission mobility and renewable energy. JUMP aims to address the financing gap in the EBRD's region and helping to create responsible and well governed mining projects by engaging early to promote the highest ESG standards on projects from the outset. 

Investment amount
The total investment amount by EBRD is expected to be up to €150 million (on a portfolio basis).

Investment period
Initial investment period until the end of 2029.

Eligible instruments
Equity (minority stake 5-25%) and quasi-equity financing instruments. 

Target recipients
Private sector focused.

Metals/minerals mining SMEs or Small Mid-Caps (listed or non-listed) pursuing exploration/ feasibility (post resource discovery ahead of mine construction) of raw materials.

Note: Resources and/or reserves reported in line with one of the internationally recognised resources reporting codes (e.g. CRIRSCO code) will be required.

Metals/Minerals
Primarily focused on critical or strategic raw materials for green and digital transition. Other raw materials such as base metals, precious metals, etc. will be considered on a selective basis to support wider economic development. Uranium and thermal coal are not eligible in line with the EBRD’s Mining Sector Strategy. 

Co-investment
JUMP aims to mobilise qualified co-investors into the selected projects alongside EBRD.

Examples of qualified co-investors:
(i) a private equity or venture capital fund with mining/exploration industry experience;
(ii) an asset manager with pre-determined minimum amount of assets under management and prior experience in mining investments;
(iii) an operating mining company;
(iv) an off-taker (e.g., trader, battery manufacturer, OEM, refiner, etc.).

EU/EBRD facility (dedicated part of JUMP)
Joint €50 million co-investment facility focused solely on critical and strategic raw materials in the EBRD region associated with Horizon Europe Programme. Approvals of the eligible investments between 2024-2027.

Geography
All EBRD economies are eligible for JUMP.

Countries associated to Horizon Europe Programme and covered by the EU/EBRD facility:

• outside of the EU: Albania, Armenia, Bosnia & Herzegovina, Georgia, Kosovo, Moldova, Montenegro, North Macedonia, Serbia, Tunisia, Türkiye, and Ukraine;
• inside the EU: Bulgaria, Croatia, Czechia, Estonia, Greece, Hungary, Latvia, Lithuania, Poland, Romania, Slovak Republic, and Slovenia.

ESG
EBRD’s Mining Sector Strategy stipulates that the EBRD will review mining sector projects on an individual basis and check them against a robust set of requirements, including the Bank’s Environmental and Social Policy (ESP). As specified in the ESP, projects will be required to apply good international practice, such as for example the Global Industry Standard on Tailings Management. In line with EBRD’s commitments, all projects it supports will be aligned with the objectives of the Paris Agreement and the Green Economy Transition Approach.