MINING
Clamour for Orion Minerals' Northern Cape project to start
Metal traders are clamouring for the project to get started in 2020, says CEO Errol Smart
Potential investors are keen for Orion Minerals to list in London, giving Europeans exposure to a large zinc and copper project in the Northern Cape that was last mined in the 1980s. But a degree of scepticism remains about SA as an investment destination despite the quality of the project, says CEO Errol Smart. However, he says, metal traders are clamouring for the project to get started in 2020 to provide quality zinc concentrate free of contaminants for offshore refineries to blend with lower quality concentrates and produce metal for the galvanised steel-making segment, of which the fundamentals are positive. The Prieska mine operated for a decade and was considered one of the top six deposits of its kind. But when the ore body flattened out from its steep dip and ballooned to a 35m width the mining company at the time was flummoxed about the best way to mine such a massive ore body — needing a new fleet, mine plan and a way of working at enormous cost. Orion, an Australian comp...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.