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Orion Minerals gains environmental authorisation for mining Vardocube portion of Prieska project

The company is focused on progressing the South African copper-zinc project towards construction, pending financing.

Orion Minerals Ltd - Orion Minerals secures environmental authorisation for mining extension of its Prieska Project in South Africa
The Vardocube EA represents a major step towards the development of the Prieska project

Orion Minerals Ltd's (ASX:ORN) subsidiary Vardocube Ltd has been granted environmental authorisation (EA) for the Vardocube portion of the flagship Prieska Copper-Zinc Project in South Africa.

The grant of the EA by the South African Department of Mineral Resources and Energy is the final step in the process leading to grant of a Mining Right for Vardocube, which covers the south-eastern strike extension of the Prieska deposit.

This EA follows the grant in August 2019 of the EA and Mining Right to sister company Repli Trading No 27, which covers the majority of the Prieska project mineral resource.

Orion managing director and chief executive officer Errol Smart said the grant was a major step in the development of the project.

He said: “This marks another significant milestone in our strategy to deliver a substantial new base metals mine at Prieska.”

Covers south-eastern extension

Smart said: “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 Vardocube EA represents the final step towards securing the Mining Right covering the south-eastern extension of the deposit.

“The award of this important authorisation is testament both to the commitment of the Orion leadership team to deliver this project and to the support of the South African authorities in facilitating new investment in a modernised mining sector.”

The grant clears the way for construction to commence, following project financing.

Optimisation studies underway

Following the completion of the Prieska bankable feasibility study (BFS) in June 2019, Orion has been progressing optimisation studies and preparations for mine construction and securing project funding.

The outcomes of the optimisation studies will be incorporated into updated operating plans to determine a final business case which will support the updated BFS report, expected in early quarter two 2020.

This will ensure that the project execution incorporates as many improvements as possible, which Orion states will further de-risk the Prieska Project and provide the best financial outcome.

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Full interview: Orion Minerals granted mining right for flagship South...

Orion Minerals Limited (ASX:ORN) managing director and CEO Errol Smart updates Proactive Investors on the company being granted the key mining right by the South African Department of Minerals Resources and Energy for the Prieska Copper-Zinc Project in South Africa. This marks a major...

on 3/9/19

2 min read