Modern Mining March 2024

MINING News

JSE-listed Orion Minerals has reached an agreement to access and acquire the surface ownership rights of properties owned by Mora Plase Proprietary (Mora Plase). These properties, known as Farm Nababeep and Farm Plaatjesfontein, over lie most of the area covering the Flat Mines Project where Orion’s majority owned sub Orion acquires key surface rights at its New Okiep Mining, Flat Mines project sidiary, New Okiep Mining Company, holds a Mining Right and Prospecting Right appli cations at the Okiep Copper Project in the Northern Cape Province of South Africa. Orion is progressing a Bankable Feasibility Study (BFS) for the Flat Mines Project and is progressing Prospecting Right applications on the surrounding area, where known mineral deposits present sig nificant upside potential.

Importantly, this surface right access and ownership will allow Orion to optimise the location of surface infrastructure including roadways, underground access and venti lation holdings for the Flat Mines Project. As a result of the acquisition, Orion will also immediately have access to under take a drilling programme to confirm the expected metallurgical zonation and geo technical assessments of the deposits Orion has included in the Flat Mines Project BFS, with the data expected to enhance and further de-risk the BFS outcomes.

Orion acquires key surface rights at its New Okiep Mining, Flat Mines project. Ownership of the surface area will also allow Orion to optimise ongoing Social and Labour Plan projects such as community agriculture while also providing suitable land to locate renewable energy genera tion, such as solar and wind plants, that are expected to deliver significant benefits for the future mining operations and to the sur rounding communities.  Giyani secures remaining $10m to finalise $26 million funding package

TSX-listed Giyani Metals, developer of the K.Hill battery-grade manganese proj ect in Botswana, has finalised the US$26 million funding package to progress K.Hill to Final Investment Decision (FID). Danny Keating, CEO of the Company, commented:

“We are delighted to welcome ARCH as a shareholder and strategic partner to assist us in the long term development of K.Hill. Attracting a group with such strong ESG credentials rewards the hard work the team has undertaken to date and confirms our execution strategy. After

completing an incredibly thorough due diligence process performed by world class engineering, marketing, and social and environmental consultants, we are very excited to welcome two high quality investor groups to the company. Despite the difficult market conditions, the pack age we have secured minimises dilution for current shareholders and gives us the financing to fundamentally de-risk the project and unlock the massive value contained within K.Hill.”  Giyani Metals CEO, Danny Keating.

Drilling being undertaken at the K.Hill project.

4  MODERN MINING  March 2024