18 INVESTMENT
18 INVESTMENT OPPORTUNITY ORION MINERALS
19 Project Description Prieska Copper Zinc Mine (Pty) Ltd (PCZM) is developing the Prieska Copper Zinc Mine Project near Prieska. PCZM falls under the auspices of Orion Minerals Limited. The mine concluded a positive Bankable Feasibility Study in May 2020 and is currently in the late financing stage/early construction stage in anticipation of receiving the remainder of the requisite funding. In order to adapt to the current local and global economic challenges, PCZM instituted a number of financial and technical studies to consider the viability of a number of accelerating early cashflow scenarios which resulted in the current plan to start the operation on a smaller scale 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 and proactive up-skilling programmes continue, working towards local provision of many of the required skills. • Exploration and development to mine copper and zinc. • By-products include gold and silver, parite and barite. PARTNERSHIPS The PCZM Project falls under the auspices of Orion Minerals Limited which is dual listed on both 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 BBBEE partnerships, the project has also procured funding from the Industrial Development Corporation of South Africa Ltd (IDC) as well as from TFR&S Canada Ltd and Triple Flag Ltd (together, Triple Flag). INVESTMENT VALUE The total value of the project: As of end July 2022, R623- million had been spent on the project. The amount of R4.1-billion announced to construct the mine will be in addition to this investment. NUMBER OF JOBS TO BE CREATED Total number of jobs to be created (direct and indirect/construction phase): Initially around 100 jobs are anticipated scaling up to greater than 1 500 employees and contractors during construction, with a steady state employment estimate of 840. This excludes new jobs created for service provision to the mine and its employees.
