SHFE Lead to Mover Higher (2016-7-15)

South Africa-listed miner Orion Minerals disclosed on September 17 that its $2.5 billion copper and zinc concentrates prepayment and offtake agreement signed with a Glencore subsidiary has been approved by the South African Reserve Bank (SARB), clearing a key regulatory precondition for cross-border financing and bringing project funding close to financial close. The agreement is the binding $2.5 billion arrangement reached in February this year, with funds tied to future sales of copper and zinc concentrates. First copper and zinc concentrates are expected to be produced approximately 13 months after project funding is in place.

Australia-listed miner Develop Global issued an announcement on September 29, setting clear production targets for its copper-zinc assets for the first time. Its Woodlawn copper-zinc mine in New South Wales plans to process 775,000–875,000 mt of ore in FY27 at an average grade of 2.7% copper equivalent, containing 21,000–23,500 mt of copper equivalent metal, with 45% of total tonnage concentrated in H1 and the remaining 55% to be completed in H2 of the fiscal year. Its Yitirrti copper-silver-zinc project will remain in the construction phase throughout FY2027, with work this year to include underground development, beneficiation plant construction, and delivery of mine infrastructure, power station, and logistics, targeting first concentrates output in June 2028.