Orion Minerals Annual Report 2023
Transforming from explorer to future metals producer.
Orion is well on its way to achieving its goal of unlocking the base metals potential of South Africa’s Northern Cape and of becoming a significant base metals producer at a time when demand for green metals is soaring.
![Orion Minerals Annual Report 2023 [thumbnail]](https://orionminerals.com.au/wp-content/uploads/2023/09/orion-integrated-report-2023.png)
AAMEG Africa Awards 2023: Winner –
The Emerging ESG Leader Award for a resource exploration or development company
The AAMEG Africa Awards carry standing and status with governments and industry peers, identifying the recipients as Australian companies performing exemplary work in line with the ESG principles of AAMEG on the African Continent.
Rapidly progressing production at Prieska
Orion Minerals has awarded a trial mining contract at its flagship Prieska Copper-Zinc Mine in South Africa’s Northern Cape as it moves to active trial mining and starts its transition from a developer to an operating mining company.
![Prieska trucks [photo]](https://orionminerals.com.au/wp-content/uploads/2023/09/hb-rapidly-prieska-trucks.jpg)
Welcome to
Orion Minerals
Orion Minerals Ltd (ASX: ORN | JSE: ORN) is a globally diversified metal explorer and developer which is on track to become a new generation base metals producer through the development of its flagship Prieska Copper-Zinc Project and its near-term Okiep Copper Project, both located in South Africa’s Northern Cape.
Key Investment Highlights – Prieska Copper Zinc Mine
- Internationally diversified base metals explorer/developer
- The Orebody:
- Globally significant VMS Mineral Resource of 31Mt at 1.2% Cu, 3.6% Zn
- Mineral Reserve of 14.5Mt at 1.1% Cu and 3.2% Zn
- Updated BFS completed May 2020 following successful optimisation & value engineering, including:
- Initial 12-year, 2.4Mtpa operation targeting 22ktpa Cu and 70ktpa Zn
- Life of Mine production 226kt Cu and 680kt Zn
- Strong operating margins and financials:
- Pre-tax free cash flow A$1.6bn (post tax A$1.2bn)
- Pre-tax NPV (8% disc) A$779m (post tax (A$552m)
- Payback period 2.4 years from first production
- All in sustaining margin of 47%
- Peak funding requirement A$413m
- Trial mining, targeting the +105 Level Crown Pillar, contract awarded
- Globally competitive costs, strong margins and financials
- Project financing and strategic partner discussions well advanced
- 24-year Mining Right granted, with all other permits in place
- Exceptional exploration and growth pipeline
- Landmark black economic empowerment agreement completed
- Well-placed to access Australian and South African capital markets
- Exceptional exploration and growth pipeline
Key Investment Highlights – Okiep Copper Project (OCP)
- Compelling near-term production opportunity in South Africa’s Northern Cape, complementing the development-ready Prieska Project
- Historical mining operation previously owned by Newmont and Goldfields who produced 30,000 – 40,000 tonnes of copper per annum over several decades
- JORC compliant Mineral Resource Estimates for an initial six deposits totalling 12Mt at 1.4% Cu for 160,000t contained copper
- Outstanding exploration potential, with Orion holding 60+ years of historical exploration and mining records to assist with targeting
- May 2021 Scoping Study confirmed the economic merit of developing a foundation phase mining operation at the OCP while Orion conducts the required studies to underpin a larger-scale mining operation
- Potential for first production within 16 months of the start of construction
ASX/JSE Announcements
Change of Director's Notice - Kotze
Change of Director's Notice - Smart
Change of Director's Notice - Waddell
Appendix 3H Options Expiry
Cleansing Statement
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