Orion upgrades Prieska copper-zinc resource, unveils robust Okiep plan

Orion Minerals Limited (JSE: ORN) has released a series of announcements highlighting advancements in its copper and zinc projects in South Africa. A mineral resource estimate update for the Prieska Copper Zinc Mine's Crown Pillar has increased the copper grade by 16%, up to 2.8%. This has been achieved through improved geological observations and data gathering during trial mining, resulting in a higher-grade hangingwall unit. Total Mineral Resources for Prieska are now 31Mt at 1.2% Cu and 3.6% Zn. Separately, Orion has unveiled a Definitive Feasibility Study (DFS) for its Okiep Copper Project's Flat Mines, outlining a robust development pathway. The Stage 1 DFS details a sound financial plan for a modern underground copper mine with an NPV of AUD114 million and IRR of 23%. Key to the project is a phased approach, starting with the Flat Mines North development. This approach allows Orion to efficiently scale operations and leverage existing infrastructure and a BOOT arrangement. In a concurrent project update with Prieska Copper Zinc Mine, the mining and beneficiation contract has now been executed, with initial construction to proceed soon. All activities conform to international mining standards.