Wrap Text
Prieska Copper-Zinc Project Now Fully Permitted Following Grant of Final Mining RIght
Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
(“Orion” or “the Company”)
Prieska Copper-Zinc Project Now Fully Permitted Following Grant of Final Mining Right
Mining Right granted for the Vardocube portion of the Prieska copper-zinc Resource
Follows the grant of the Mining Right for the Prieska Copper Zinc Mine (formerly Repli) portion of the
Resource announced on 3 September 2019.
Mining Rights now in place for the entire mining plan presented in the May 2020 Bankable Feasibility
Study.
Important near-mine exploration upside also covered by the Mining Rights.
The Prieska Project is now officially “shovel-ready” and one of the few advanced, fully permitted base
metal projects worldwide.
In just five years since acquiring the Prieska Project, Orion has drilled out a world-class VMS Resource,
completed a Bankable Feasibility Study and now completed all required permitting.
Orion’s Managing Director and CEO, Errol Smart, commented:
“We are extremely pleased that the final regulatory hurdle for the development of the Prieska Copper-Zinc Mine
has now been fulfilled. Prieska is now positioned to play a major role in the post-COVID economic recovery of the
Northern Cape region of South Africa with the development of a world-class base metals mining operation.
“The achievement of this major milestone is testament to the exceptional geological potential and attractive
business operating environment that we have found and made our home in the Northern Cape. In less than five
years we have been able to locate, acquire, drill out, complete a high-quality Bankable Feasibility Study and fully
permit a world-class modern mine, to international best practice standards.
“The project has already seen over R450 million (A$36 million) in foreign direct investment to reach this stage and
is now poised to bring in a further investment of over R5.4 billion (A$432 million) over the next three years as we
construct a mine projected to deliver more than R40 billion (A$3.2 billion) of mineral exports over an initial twelve
year life. This is a clear demonstration of the potential of junior mining and exploration and the significant financial
benefits that it can mobilise, when working with a supportive host community, strong BEE partners and proactive
local and provincial government.
“We would also like to acknowledge the hard work that has been put in during the COVID-19 lockdown period
by officials at the Department of Mineral Resources and Energy, the Department of Environment and the
Department of Water and Sanitation, who processed our applications under difficult operating circumstance
during the past few months.
“The receipt of this final approval is a strong foundation for our ongoing discussions with potential financiers of the
debt and equity components of the construction financing package and we look forward to being able to
update our shareholders on progress over the next few months.”
Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) is pleased to announce that it has received a
notice of grant of a Mining Right in terms of the Mineral and Petroleum Resources Development Act for the
Vardocube extensions of its flagship Prieska Copper-Zinc Project (Prieska Project) in South Africa’s Northern Cape
Province.
The Vardocube (Pty) Ltd (Vardocube) Mining Right covers 27% of the ore included in the updated Bankable
Feasibility Study announced on 26 May 2020 (refer ASX release 26 May 2020) and, importantly, also covers highly
prospective exploration upside in the near-mine area.
The Vardocube Mining Right supplements the Prieska Copper Zinc Mine (formerly Repli) (PCZM) Mining Right
granted last year, that covers 73% of the bankable mine plan (refer ASX release 3 September 2019).
The Mining Right follows the grant of the Environmental Authorisation for the Vardocube Resource received in
March 2020 (refer ASX release 9 March 2020).
The two Mining Rights, together with the Water Use Licence granted on 6 August 2020, constitute the key approvals
required to operate the Prieska Mine, with other important statutory requirements such as the Spatial Planning and
Land Use Management Act (SPLUMA) rezoning for mining purposes and approval of the project’s Electromagnetic
Compatibility Plan by the South African Astronomy Management Authority (AMA), which regulates all activities
within the Square Kilometre Array designated area, now also secured.
Figure 1: Locality of the Vardocube Mining Right with footprint of the PCZM Orebody and key VMS exploration upside targets.
For and on behalf of the Board.
Errol Smart
Managing Director and CEO
17 August 2020
ENQUIRIES
Investors Media JSE Sponsor
Errol Smart – Managing Director & CEO Nicholas Read Monique Martinez
Denis Waddell – Chairman Read Corporate, Australia Merchantec Capital
T: +61 (0) 3 8080 7170 T: +61 (0) 419 929 046 T: +27 (0) 11 325 6363
E: info@orionminerals.com.au E: nicholas@readcorporate.com.au E: monique@merchantec.co.za
Disclaimer
This release may include forward-looking statements. Such forward-looking statements may include, among other things,
statements regarding targets, estimates and assumptions in respect of metal production and prices, operating costs and results,
capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates, and are or may be
based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.
These forward-looking statements are based on management’s expectations and beliefs concerning future events. Forward-
looking statements inherently involve subjective judgement and analysis and are necessarily subject to risks, uncertainties and
other factors, many of which are outside the control of Orion. Actual results and developments may vary materially from those
expressed in this release. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-
looking statements. Orion makes no undertaking to subsequently update or revise the forward-looking statements made in this
release to reflect events or circumstances after the date of this release. All information in respect of Exploration Results and
other technical information should be read in conjunction with Competent Person Statements in this release (where
applicable). To the maximum extent permitted by law, Orion and any of its related bodies corporate and affiliates and their
officers, employees, agents, associates and advisers:
• disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any change in
expectations or assumptions;
• do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the
information in this release, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or
implied in any forward-looking statement; and
• disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for
negligence).
Date: 17-08-2020 08:52:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
