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Orion Minerals (ASX:ORN) - CEO & Managing Director, Errol Smart - The Market Herald
CEO & Managing Director, Errol Smart
Sourced: YouTube
  • Orion Minerals' (ORN) subsidiary, Vardocube, has been granted an Environmental Authorisation (EA) by the South African Department of Mineral Resources and Energy
  • The grant covers Vardocube's portion of the Prieska Copper-Zinc Project in the Northern Cape Province
  • This approval is a major step forward in developing Orion's Prieska Project and clears the way for project financing and construction
  • Orion shares remain flat and are trading for 1.5 cents each

Orion Minerals' (ORN) subsidiary, Vardocube, has been granted an Environmental Authorisation (EA) by the South African Department of Mineral Resources and Energy.

The grant of the EA covers Vardocube's portion of the Prieska Copper-Zinc Project in South Africa's Northern Cape Province.

This approval represents a major step forward in developing Orion's Prieska Project and clears the way for project financing and construction.

"With the grant of the Environmental Authorisation and Mining Right for the bulk of the Prieska Mineral Resource secured in August last year, the grant of the the Vardocube EA represents the final step towards securing the Mining Right covering the south-eastern extension of the deposit," Orion Managing Director and CEO Errol Smart said.

Following the completion of the Prieska Project Bankable Feasibility Study (BFS) in June 2019, Orion has been progressing studies and preparation for construction and funding. The outcomes of this will be included in an updated operation plan that is targeted for early next quarter.

The company considers this approach as being optimal for making as many improvements as possible and keeping the project low-risk.

Prieska is located 270 kilometres southwest of Kimberley and is one of the world’s top 30 volcanogenic massive sulphide (VMS) base metal deposits.

It has a recorded historical production of over 1 million tonnes of zinc and 430,000 tonnes of copper from 46.8 million tonnes of sulphide ore milled.

Orion shares remain flat and are trading for 1.5 cents each at market close.


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