Orion Minerals announced that it has received the final mining rights for its flagship Prieska Copper-Zinc Project’s Vardocube portion in South Africa.
Vardocube was the only remaining portion to receive the nod after the company got the grant for the mine in September last year.
The mining rights also cover exploration in the near-mine area.
The project is expected to deliver 23,000 mt of copper and 88,000 mt of zinc per year in concentrate during its peak.
CEO Errol Smart said that the project is ‘shovel-ready’ and has a significant potential for exploration which could turn the area into a copper-producing district.
The project has witnessed over ZAR450mn in FDI and is expected to bring in a further investment of over ZAR5.4bn in the next three years.
The mine is projected to deliver more than ZAR40bn of mineral exports over an initial twelve-year life, the company said.
($1 = ZAR 17.24)