A Northern Cape mine that was closed 28 years ago and dismantled by an almost week-long auction will be re-opened after Australian mining group, Orion, announced it will re-commence with copper and zinc operations in Prieska.
The R4-billion project would break even in three years, Orion said, and was expected to generate revenue of around R33 billion in its first decade or “foundation phase” as the group refers to it.
Resources writer Allan Seccombe writes that the mine will deliver around 2.5 million tonnes of raw minerals from its underground resource annually.
Its opencast and processing plant is expected to deliver around 189 000 tonnes of copper and 580 000 tonnes of zinc within the foundation phase.
Orion CEO Errol Smart said final investor involvement will most likely be concluded within the coming months, paving the way for mining to commence later this year or early 2020.
