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Orion Secures Up to US$250M from Glencore to Kickstart Prieska Mine
9:01am on Wednesday 17th of September, 2025 AEST
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Mining
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Orion Secures Up to US$250M from Glencore to Kickstart Prieska Mine
9:01am on Wednesday 17th of September, 2025 AEST
Key Points
Non-binding term sheet for US$200-250 million financing with Glencore
Funding split into two tranches for Uppers and Deeps mining phases
Offtake agreement covers 100% of concentrate production for 5-10 years
Milestone-based drawdowns and market-rate interest with step-down post-production
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