After its successful predecessors, African Lion Mining Fund III is the third regional mining fund specialized in early stage equity for medium scale mineral resource companies throughout Africa, with particular emphasis on sub-Saharan countries. The fund targets investments in advanced exploration, feasibility and development projects in the mining sector, usually at pre-operational stage. The focus is on gold and base metals, but other mineral commodities such as industrial minerals, gemstones etc. (but not oil and gas) are also covered.