Base Metals
Posted By OrePulse
Published: 21 Nov, 2025 08:01
Orion confirms Glencore financing, offtake agreement to be finalised within weeks
Orion’s subsidiary, Prieska Copper Zinc Mine, signed a nonbinding term sheet with a subsidiary of Glencore in September, which involves financing of between $200-million and $250-million, in exchange for a ten-year agreement for Glencore to buy 100% of the copper and zinc concentrates produced from the Prieska project.
The documentation for the concentrate offtake is also in the final stages of finalisation.
Orion expects the binding documentation, including an intercreditor agreement, to be signed by the middle of December.
The company expects to start production at the Prieska mine, in South Africa’s Northern Cape province, by the end of 2026.
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