https://www.miningweekly.com

Orion to publish optimised Prieska BFS early next year, continues financing talks

3rd December 2019

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

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 next year 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 interested from strategic investors that want to partner with Orion through equity participation in its operating subsidiary company.

The Prieska project, based 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.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION