Company is investigating funding options due to unsolicited approaches by interested parties
Orion Minerals is attracting interest from other mining companies as it nears financing deals for its R4bn copper and zinc operation in the Northern Cape.
“The interest that we are now enjoying from established mining companies as they recognise the quality and growth potential of this project with its modern, high-efficiency mining focus is encouraging,” he said, adding that “there may well be unexpected synergies emerging that need to be considered as we work out how to maximise our shareholder returns”.
“The potential positive effect of operational synergies that may be achieved through investment by strategic partners, thereby reducing the equity amount to be provided by Orion, is now being assessed as an alternative funding source,” said Smart. Once that document is finalised, Orion will agree debt finance towards building the project. Senior, secured debt proposals have been made by seven financial institutions, two of which are development funding groups.
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