Orion Minerals clears key hurdle as it nears funding deal

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The miner has secured a long-term water-use licence, with capital-raising plans for the R5.3bn project to be unveiled soon

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Orion Minerals, which is bringing the Prieska zinc and copper mine in SA back into production, has secured a long-term water-use licence, clearing the way for its imminent announcement on funding of the R5.3bn project.

He described securing the licence as the “largest remaining regulatory hurdle” to be cleared before the project can start in earnest. Orion is close to India’s Vedanta Resources’ Gamsberg zinc mine and concentrator, while global resources company Anglo American’s sefa Mining Fund has rolled over the repayment of a R14m loan from end-July 2020 to April 2021. The sefa loan is secured against a 29% stake in Prieska held by Agama Exploration and Mining, a wholly owned Orion subsidiary.

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