South Africa: Mantashe hopeful for Orion Minerals' flagship PCZM's future
Orion Minerals' flagship Prieska Copper Zinc Mine (PCZM) in the Northern Cape, is becoming a next-generation copper and zinc producer.
The minister, who was employed at Prieska Copper Mines from 1975 to 1983, went on an underground visit and was shown the dewatering infrastructure and freshly exposed ore at the site of the recent underground trial mining.
Located in the Northern Cape, the mine is becoming a next-generation copper and zinc producer.
Two-phase development strategy
In March this year, its PCZM Definitive Feasibility Studies (DFS) outlining an optimised two-phase development strategy aimed at de-risking the mine's development pathway and accelerating value creation was released.
This approach will deliver first production from the Upper-Level Phase within 13 months from the start of construction, with the cash generated helping to fund the ongoing de-watering and other early works required for the Deeps Phase of the mine.
Orion is well-positioned to become a near-term producer after delivering positive studies for both PCZM and the Flat Mines Project at Okiep.
Positive catalyst
Orion has been a positive catalyst in its host communities, demonstrating that a junior exploration company can deliver benefits and change for the communities surrounding its operations.
Throughout the development stages of its operations, Orion continues to prioritise the development of local suppliers to benefit the social and economic well-being of the community.
The development of these projects will play an important role in unlocking economic development and community development opportunities in the Northern Cape, securing the region's long-term prosperity.
Financially robust mining operation
Orion's managing director and CEO, Tony Lennox, welcomed the DMPR to PCZM to showcase the high potential of its assets as well as its plans to advance these projects and financing strategy, while delivering on skills development and employment opportunities goals.
'We are committed to delivering meaningful economic and social change in the region.'
Orion is making progress with the next stage of its development strategy, including advancing project financing and dewatering of PCZM, which has a mineral resource of 31.0Mt at an average grade of 1.2% copper and 3.6% zinc.
PCZM has the potential to develop into a long-life, financially robust mining operation with an annual steady-state production of 22kt of copper and 65kt of zinc.
Future of Prieska
'After visiting the mine, I am hopeful for the future of the Prieska mine to create value, improve lives, support other businesses and uplift the Northern Cape. I will come back to visit when the mine produces its first copper,' says Mantashe.
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