Orion Minerals has appointed Nick Fouche as project manager to oversee the completion of a feasibility study that will allow for further upside potential from the optimisation of scheduling and design of the Prieska mine.
Fouche is a prominent project manager and has been tasked with managing the completion of the Prieska Copper Zinc Mine (PCZM) feasibility study. He will also oversee project execution for Prieska.
The company yesterday said it has also enlisted the services of Australian-based LMMS Consultants to help with the final stages of the feasibility study.
Already, an internal review of the Prieska Mine feasibility study has identified “the potential for further upside that may be realised from the optimisation of mine scheduling and design” processes, said Orion.
“As a result, LMMS has commenced a further mine schedule optimisation program, which is scheduled for completion in the current quarter. Outcomes of this work will be incorporated in the final Prieska feasibility study, which is now scheduled for delivery in Q1 2025,” added the company.
Feasibility studies for its other the Flat Mines project, which constitutes part of the broader Okiep Copper Project, is also on track for external review commencing next month.
Fouche has previously worked as project director for the feasibility study and execution of the Palabora underground mining pronext. He also worked for South32 and Rio Tinto.
“The Prieska Mineral Resource has unique geometry, being folded through dip rotations of almost 3200 and having mineralised true widths varying from 2m – 45m,” said Orion’s managing director and CEO, Errol Smart.
“While it has been relatively simple to select suitable mining methods to extract this superb orebody, the iterative process required to optimise the appropriate mining methods in different mining areas to achieve optimum ore recovery and cash-flow is proving time consuming.”
Smart added that when building large, long-life mines with large specialist mining fleets, it was important to get the the best combination of mining methods and primary development layouts.
This was critical in maximising long-term project execution and financial returns.
“In the case of PCZM, unlocking the potential upside from additional optimisation studies outweighs the earlier completion of a feasibility study,” added Smart.
During the quarter to the end of September, Orion completed a capital raising of about R136.3m made up of a R92.3m ordinary fully paid share placement and a strongly supported share purchase plan, which raised R44m.
“Funds from the placement and Share Purchase Plan will be principally used to progress development at PCZM, as well as permitting and accelerating infrastructure development for early production and ongoing exploration drilling at Okiep.”
BUSINESS REPORT