Orion Minerals on track for production at Prieska copper zinc mine
Orion Minerals is making significant progress towards commencing production at its Prieska copper zinc mine in the Northern Cape. The company has already built a mine site and is preparing to set up a concentrator in the next seven to nine months.
Off-takers are showing great interest in the project, with Orion CEO Errol Smart stating that there is massive upside potential for the Prieska mine. He highlighted that the company has met all compliance obligations, connected power and water supplies, and is now focused on building a concentrator for the project.
In addition to the Prieska mine, Orion is also pursuing production at the Okiep copper mine in the same region. Smart mentioned that the company has tied up about 75% of the entire mining district at Okiep and is waiting for a water-use license before fully commencing mining operations.
Orion recently raised A$7.2 million (R88.2m) through the issuance of 479.5 million shares, further boosting its financial position. The company also completed a R92.3 million capital raise earlier this month to accelerate infrastructure development at Okiep and fast-track development at the Prieska mine.
With the support of investors and the Industrial Development Corporation (IDC) as a partner, Orion is well-positioned to achieve its management aspiration of producing 50,000 tons of copper per year. The company’s commitment to sustainable mining practices, combined with its strategic partnerships, bode well for its success in the South African mining sector.
