Updated Prieska feasibility study out in early 2020
ASX- and JSE-listed Orion Minerals has continued to incorporate positive results from optimisation studies into the Prieska copper project’s bankable feasibility study (BFS).
The optimisation studies will culminate in an updated BFS in the first quarter of 2020 and are expected to highlight the opportunity for an expanded and enhanced project development scenario.
Results of the optimisation studies indicate the potential to reduce the project’s pre-production capital, extend the planned mine life and further improve project economics.
Orion completed a positive BFS in June, based on a 2.4-million-tonne-a-year underground and openpit mining operation, with a ten-year foundation phase mining 20.8- million tonnes and delivering payable metal production of 189 000 t of copper and 580 000 t of zinc in differentiated concentrates.
Meanwhile, the company is discussing project debt finance with several financial institutions.
Orion has received written expressions of interests from seven banks for debt finance, as well as several proposals for the provision of mezzanine debt and equity investment at asset level from parties interested in securing future product offtake.
The company has also received expressions of interest from strategic investors that want to partner with Orion through equity participation in its operating subsidiary company.
The Prieska project, located in South Africa’s Northern Cape province, contains a volcanic massive sulphide resource totalling 30-million tonnes at 1.2% copper and 3.7% zinc, while being open along strike and at depth.
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