Orion Minerals Limited
Orion Minerals Limited
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South African-focused developer Orion Minerals has gained commitments for $A6M of a $20M placement to advance its early production strategy for the Prieska copper-zinc mine and other assets in the Northern Cape province.
The placement at 2cps has been split into three tranches to allow sophisticated and professional investors more time to finalise their involvement amid market volatility. The raising will support Orion’s $US87M stream funding package from Triple Flag Precious Metals.
Major funding and technology agreements deliver pivotal steps towards the development of Orion Minerals’ major development projects in South Africa’s Northern Cape province.
South African-focused miner Orion has secured access to a potentially game-changing refining process for its Northern Cape projects by signing an exclusive term sheet agreement with chemical engineering specialist Stratega Metals.
Orion will supply a 250kg sample of Ni-Cu-Co-PGE-Au concentrates from its Jacomynspan project for test work using Stratega's advanced refining technology. It also has the exclusive right to earn a 75% stake in Stratega by funding construction of a demonstration-scale refinery.
Orion Minerals’ Prieska copper-zinc project could become a front-runner in the global push for net zero carbon emissions due to its proximity to the planned Prieska Power Reserve project in South Africa’s Northern Cape province.
The company has entered discussions with the Central Energy Corporation on the possible inclusion of its project in the planned mega-scale renewable energy hub, and its potential to source all power requirements from renewable energy and green hydrogen.
(ENVIRONMENTAL) Developer Orion Minerals is exploring the potential to play a pivotal role in the global push for net zero carbon emissions by sourcing the power needs of its Prieska copper-zinc project from a planned South African renewable energy hub.
The decision by South Africa’s Industrial Development Corporation to take a key strategic partnership in the development of the Okiep copper project in the Northern Cape province has been welcomed by developer Orion Minerals as de-risking the project and strengthening future funding opportunities.
Under a restructured shareholding agreement, the national development finance institution will hold a 43.7% stake in the project to Orion’s 56.3% holding.
South Africa’s Minerals Council has backed Australian-based developer Orion Minerals in its stand against violent illegal protests aimed at its flagship Prieska copper-zinc development project in the Northern Cape Province.
South African project developer Orion Minerals has been awarded a High Court interdict against protesters responsible for illegal violent protests last week against its flagship Prieska copper-zinc project in Northern Cape Province. The court directed SA Police to enforce the order.
MD-CEO Errol Smart blamed the damaging protests in the town of Prieska on “aspirant politicians and unscrupulous contractors”.
A scoping study supports the potential for early production and cashflow from a low upfront capital investment in openpit and underground mining of the historic Okiep copper project in South Africa’s Northern Cape province.
The study was carried out as part of Australian-based Orion Minerals’ due diligence evaluation of its proposed acquisition of a 56.2% shareholding in partnership with 43.8% owner Industrial Development Corporation.
Orion Minerals has lifted inferred mineral resources at the historic Okiep Copper Project in S Africa’s Northern Cape Province it is pursuing through the company’s Feb 2021 option agreement to acquire a controlling majority interest.