The shares of Orion Minerals surged more than a third on Thursday after the minerals exploration company said it intended raising A$25m (R300m) for the development of copper assets in the Northern Cape.

Orion intends to turn the province into a “globally significant copper producer”, intending to raise funds through two tranches, comprising the issue of more than 694.4-million shares  at a price of 3.6 Australian cents each...

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