The mine concluded a
The mine concluded a positive Bankable Feasibility Study in May 2020 and is currently in thelate financing stage - early Construction Stage in anticipation of receiving the remainder of therequisite funding.In order to adapt to the current local and global economic challenges, PCZM instituted anumber of financial and technical studies to consider the viability of a number of acceleratingearly cashflow scenarios which resulted in the current plan to start the operation on a smallerscale and ramp-up to the final development scenario outlined in the BFS-20.Work has begun and the project remains positive. Work with the local mine community andpro-active up-skilling programmes continue, working towards local provision of many of therequired skills.The PCZM Project falls under the auspices of Orion Mineral Limited which is dual listed onboth the Johannesburg Stock Exchange(JSE) and the Australian Stock Exchange (ASX)allowing for equity participation by the peoples of South Africa.In addition to the BBEEE partnerships, the Project has also procured funding fromthe Industrial Development Corporation of South Africa Ltd (IDC) as well as fromTFR&SCanada Ltd and Triple Flag Ltd (together,Triple Flag).www.orionminerals.com.auName: Errol Smart Position: Orion CEOName: Peet Coller Position: Orion COOEmail Address: info@orionminerals.com.au
Investment valueThe total value of the project: As of end July 2022, R623 million has been spent on theproject. The R4.1 billion announced to construct the mine will be in addition to thisinvestment.Number of Jobs to be createdA total number of jobs to be created (direct and indirect/construction phase). Initiallyaround 100 jobs are anticipated scaling up to greater than 1,500 employees andcontractors during construction; with a steady state employment estimate of 840. Thisexcludes new jobs created for service provision to the mine and its employees.
