- Orion Minerals (ORN) have been granted a mining right over the Flat Mines area of its Okiep project in South Africa
- The company says the mining right was approved by the South African Department of Mineral Resources and Energy and marks a major milestone in developing the project
- It clears the way for final engineering studies, a mineral resource upgrade, drilling and bulk sampling for metallurgical optimisation
- The mining right is initially valid for 15 years and can be renewed for a further period upon application
- Shares end the day five per cent in the red to close at 1.9 cents
Orion Minerals (ORN) has been granted a mining right over the Flat Mines area of its Okiep project in South Africa.
The company said the mining right was approved by the South African Department of Mineral Resources and Energy and marks a major milestone in developing the project.
It clears the way for final engineering studies, a mineral resource upgrade, drilling and bulk sampling for metallurgical optimisation.
This includes confirmation drilling and metallurgical sampling to complete its bankable feasibility study, which is expected to be complete early next year.
Managing Director and CEO Errol Smart said the study was at an advanced stage.
“The grant of the SAFTA mining right is a major step forward for Orion and our objective of early production of copper and other future facing metals, while continuing to expand our mineral resources and beneficiation capacity in the Northern Cape, South Africa,” he said.
The mining right is initially valid for 15 years and can be renewed for a further period upon application.
Shares have ended the day five per cent in the red to close at 1.9 cents.