Orion Minerals gets another grace period to repay loan
Company owes R14.2m plus interest to the Anglo American Sefa Mining Fund
Orion Minerals, the Australian company that is developing a multibillion-rand copper to zinc project in Kimberley, has been given another six months grace period to settle a loan taken in 2017 to be used in the mining development.
The JSE- and Australian Securities Exchange-listed company took out a R14.2m loan with the Anglo American Sefa Mining Fund, which was used in the exploration of the R5bn project. It is expected to have positive spin-off effects in the province once production starts in 2024...