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Orion Minerals Limited ( (AU:ORN) ) has issued an announcement.
Orion Minerals Limited has announced a non-binding term sheet with Glencore for financing between US$200 million to US$250 million and an offtake agreement for its Prieska project. This agreement is a pivotal step for Orion, enabling the transition to production and ensuring smooth operations from the Uppers to the Deeps at Prieska. The involvement of Glencore, a major player in the natural resources sector, underscores the project’s potential and is expected to facilitate job creation and socio-economic development in the Northern Cape region.
More about Orion Minerals Limited
Orion Minerals Limited operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily involved in copper and zinc mining, with a significant project at the Prieska Copper Zinc Mine in South Africa.
Average Trading Volume: 1,574,677
Technical Sentiment Signal: Buy
Current Market Cap: A$112.5M
Learn more about ORN stock on TipRanks’ Stock Analysis page.