Our BEE Partners
In August 2019, Orion Minerals further strengthened its black economic empowerment (BEE) partnership by introducing Safika Resources, a prominent BEE mining and exploration company, as a key BEE partner at its flagship Prieska Copper-Zinc Project in South Africa’s Northern Cape (refer ASX release 2 August 2019).
The agreement followed Orion’s announcement of a pivotal BEE equity participation deal and capital raising in April 2019 (refer ASX release 16 April 2019) and sees Safika Resources included as a shareholder alongside the founding members of Prieska Resources, Orion Minerals’ BEE holding company. Prieska Resources will hold a 20% stake in the project. Read more about Safika Resources.
Safika Resources joins founding BEE partners Black Star Minerals and Kolobe Nala Investment Company as holders in Prieska Resources.
All of Orion’s BEE partners will be aligned as shareholders at the ASX-JSE listed level, sharing the equity risk and reward on equal terms with other Orion shareholders.
Orion’s approach to BEE equity participation has accelerated its compliance with the ownership aspects of the South African Mining Charter (MC3).