Orion Minerals, a company listed in both Johannesburg and Sydney, is making significant strides in its transformation into a mine developer and operator at the Prieska copper/zinc mine in South Africa's Northern Cape. The firm is focused on developing projects capable of meeting the growing demand for key metals, driven by declining global resource reserves, falling grades at major mines, and a lack of investment in new mining operations.

Orion CEO Errol Smart reported that they have been diligently working on various preparatory activities, including installing underground refuge chambers, upgrading the emergency escapeway hoisting capacity, and sourcing and installing essential ventilation equipment in readiness for trial mining. A six-month trial mining contract has been awarded to South African contract mining company Newrak Mining, which will target the near-surface crown pillar deposit using both conventional and alternative underground mining methods.

To facilitate these developments, Orion secured an initial project funding of R163 million in July, drawing from facilities totaling R370 million, which includes a R250 million convertible loan from South Africa's Industrial Development Corporation and R118 million from the Triple Flag early funding arrangement. Primary dewatering of the Prieska mine is scheduled to commence in the first quarter of the following year, following the commissioning of the primary 15 MW electrical power supply. Furthermore, the installation of a 178 m rising main dewatering pipe has been successfully completed.

Orion is on track to complete an updated feasibility study on the accelerated development strategy and staged ramp-up at Prieska by mid-next year, after the trial mining phase concludes. Simultaneously, at their second emerging production hub, the Okiep copper project, geological reinterpretation has resulted in an improved definition of mineralized zones, leading to an increase in the total mineral resource.

Orion is actively engaging with potential process plant service providers to supply a 30,000 to 60,000 tons-per-month modular process plant for ore treatment during the trial mining phase at Prieska. Test work is underway on supergene material as the initial feed into the sulphide process plant. The plant's design will accommodate separate treatment campaigns for different ore bodies.

In addition, Orion is making progress on its Jacomynspan nickel, copper, cobalt, and platinum group elements sulphide project, focusing on modern refining technology for the production of metal products essential to the energy transition. The company is also expanding its electricity supply point substation, scheduled for completion by early 2024, to support these projects. Electrical project management and specifications are being handled in collaboration with Power Plant Electrical Technologies.

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