Orion Minerals

Orion Minerals Ltd (ASX: ORN | JSE: ORN) is a dual-listed mineral exploration and development company positioning itself to become a significant producer of base metals required for the global transition to a lower-carbon future. The company's business model is centered on the exploration, evaluation, and development of its portfolio of assets located in South Africa's Northern Cape province, a region with high mineral endowment. Orion's revenue will be generated from the sale of metal concentrates, including copper and zinc, to global markets, with a focus on establishing offtake agreements with smelters and traders seeking long-term supply.

The company's key assets are brownfield projects, meaning they leverage existing infrastructure from historical mining operations, which can reduce initial capital expenditure and accelerate timelines to production. The flagship asset is the Prieska Copper-Zinc Mine (PCZM), a historically significant volcanogenic massive sulphide (VMS) deposit that produced over 430,000 tonnes of copper and 1 million tonnes of zinc before closing in 1991. Orion's strategy for Prieska involves a two-phased development. Phase 1 is a rapid-start operation targeting near-surface ores to generate early cash flow, with first production anticipated within 13 months of securing final funding. Phase 2 will involve a larger-scale, long-life development of the substantial 'Deeps' resource, which requires dewatering the historical mine workings. The combined operation is planned for a 13.2-year life, targeting annual production of 22,000 tonnes of copper and 65,000 tonnes of zinc.

A second key asset is the Okiep Copper Project (OCP), located in a premier historical copper district that produced over 2 million tonnes of copper over a 150-year period. Orion acquired the project in 2021 and is fast-tracking a foundation-phase mining operation, with a Definitive Feasibility Study (DFS) completed in March 2025. The company's strategy at Okiep is to begin with a smaller, proof-of-concept operation with the potential to expand over time by exploring the numerous other drilled orebodies within the project area. Combined, the Prieska and Okiep projects are expected to give Orion a production profile of 30,000 tonnes of copper per year. The company also holds the Jacomynspan Nickel-Copper-PGE Project, adding to its portfolio of future-facing metals.

The management team comprises seasoned mining professionals. The Chairman, Denis Waddell, is a Chartered Accountant with extensive experience managing exploration and mining companies. In April 2025, Anthony (Tony) Lennox succeeded Errol Smart as Managing Director and CEO. Lennox is a mining engineer with over 40 years of experience, including significant roles at Rio Tinto, BHP, and as Managing Director of Palabora Mining Company in South Africa, where he led a strategic turnaround of the large-scale underground copper operation. This experience is directly relevant to Orion's plans for its deep, underground projects at Prieska and Okiep. Keywords: copper mining, zinc mining, base metals, mineral exploration, South Africa mining, Northern Cape, Prieska Copper-Zinc Mine, Okiep Copper Project, brownfield development, volcanogenic massive sulphide, project financing, mine development, offtake agreements, future-facing metals, ESG mining, Anthony Lennox, Denis Waddell, mineral resources, feasibility study, mining infrastructure