Orion Minerals secures funding for mining projects

Orion Minerals Ltd (ASX: $ORN) has secured significant funding for its mining projects, including a ZAR34.58M (~$A2.85M) shareholder loan from the Industrial Development Corporation of South Africa Limited (IDC) for the Flat Mines Project and a ZAR250M (~$A20M) senior secured convertible loan facility from the IDC for the Prieska Copper Zinc Mine.

Executive commentary on funding arrangements

The funding secured from the IDC for the Flat Mines Project and the Prieska Copper Zinc Mine demonstrates a strong show of confidence in our projects. The terms of the loans provide us with the necessary financial support to advance our pre-development activities and early mining works. We are pleased with the progress and look forward to achieving our milestones as we move towards commercial production.

Summary of funding and outlook

Orion Minerals has successfully secured funding for its mining projects, reflecting a positive outlook for the company's growth and development. The ZAR34.58M (~$A2.85M) shareholder loan from the IDC for the Flat Mines Project and the ZAR250M (~$A20M) senior secured convertible loan facility for the Prieska Copper Zinc Mine provide the company with the necessary financial resources to progress its key activities. With these funding arrangements in place, Orion Minerals is well-positioned to advance its projects and work towards achieving commercial production. The company remains focused on executing its corporate strategy and delivering value to its stakeholders.