Australian mining company Orion Minerals is raising A$15.4 million ($10.9 million) through a share placement backed by South African institutional investors, as the company moves to accelerate development of its key copper and zinc assets in the country.
The funding will support early engineering works and surface infrastructure at the Prieska Copper-Zinc Project, while also advancing exploration drilling activities at the Okiep Copper Project as Orion works toward securing full-scale construction financing.
Backed by local institutional investors, the deal is set to close around May 28, 2026. This funding serves as a financial bridge to keep early-stage work moving forward while the company secures its main construction financing.
CEO Tony Lennox noted that this cash injection is crucial for keeping the project on schedule. It ensures the company can begin major construction as soon as main funding is finalized, keeping Orion on track to become an active producer by late 2026.
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