SARB Approves $2.5B Glencore Deal for Orion Minerals' Copper, Zinc Project

Published: Sep 29, 2026 13:41 (GMT+8)

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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.

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