Australia’s Orion Minerals signs deal with Glencore unit for up to $250 million funding - Regional Media News

Orion clinches watershed $250m deal with Glencore

ORION Minerals finally has liftoff on its Prieska Copper Zinc Mine after unveiling today a major financing and offtake deal with Glencore of up to $250m. The Sydney- and Johannesburg-listed copper development firm said it would supply Glencore with production from PCZM situated in the Northern Cape province as part of a $200m to $250m finance package, worth R4.35bn in local currency. “This is a watershed moment for Orion with the proposed Glenco…

Australia’s Orion Minerals signs deal with Glencore unit for up to $250 million funding - Regional Media News

(Reuters) -Australia’s Orion Minerals said on Wednesday it has signed a non-binding term sheet with a unit of global miner Glencore for $200 million–$250 million funding for its Prieska copper-zinc project in South Africa. The diversified metal developer said that the deal includes an offtake agreement with Glencore to sell 100% of zinc and copper concentrates, among others, from the mine for a period ranging between five and 10 years. Orion wil…