Orion Minerals Unit Secures Prepayment Deal With Glencore Subsidiary

MT Newswires Live

Feb 09

Orion Minerals' (ASX:ORN) Prieska Copper Zinc Mine subsidiary secured a $250 million prepayment agreement with a Glencore subsidiary in relation to the sale of bulk copper and zinc concentrates from the Prieska project in South Africa, according to a Monday filing with the Australian bourse.

The facility, which will be made available in two tranches, will provide funding for the project's Uppers and Deeps developments, the filing said.

First production from the Uppers is expected in March, per the filing.

Orion Minerals' shares jumped almost 3% in recent Monday trade.

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