On September 17, Orion Minerals announced that its subsidiary Prieska Copper Zinc Mine Ltd signed an agreement with a wholly-owned subsidiary of Glencore, securing US$200 million to US$250 million in financing and a concentrate offtake agreement for the Prieska project. The offtake agreement includes the sale by Orion Minerals to Glencore of all zinc concentrate and copper concentrate produced from this mine, with an offtake period of 5 to 10 years.
Orion Minerals is currently developing two projects: the Prieska Copper Zinc Mine (PCZM) and the Okiep Copper Project (OCP). The first production from the Prieska Copper Zinc Mine (PCZM) project is expected by the end of 2026 or early 2027, with an ambitious target to increase copper production to over 10,000 mt/year and zinc production to 65,000 mt/year once both projects reach stable production. The PCZM project has a mineral resource of 31 million mt, with an average grade of 1.2% copper and 3.6% zinc.
The 2025 Definitive Feasibility Study outlines an optimized two-phase development strategy: the upper ore body is expected to achieve first production within 13 months of the start of construction and continue production for 4.3 years, while the deep ore body mining has a mine life of 11 years, overlapping with the last 2.2 years of production from the upper ore body, resulting in a total mine life of 13.2 years.

![[ Phân tích SMM ] Hướng dẫn trực quan về Báo cáo bán niên 2026 của 19 nhà luyện đồng](https://imgqn.smm.cn/usercenter/gCNEi20251217171715.jpeg)

