Orion Minerals Ltd (ASX:ORN) (JSE:ORN) has reported the company believes it is in compliance with South Africa’s new mining charter, published last week.
The managing director & CEO of Australia and Johannesburg-listed Orion, Errol Smart, told the market today: “Initial reading of the revised charter suggests that all of the company’s South African holdings are currently in compliance with the revised charter.”
Orion Minerals begins near-mine exploration as drill-out program approaches completion
The geologist-MD reported the company did not expected any material adverse effects on its business plans from the revised charter updated in the South African Government Gazette last Thursday.
Next steps
Orion said it would continue to consult its legal advisors and the Minerals Council of South Africa.
The company’s lead project is Prieska, a 29.4 million tonne zinc-copper mine shuttered three years before the end of apartheid years, in 1991.
Orion is currently finalising a feasibility study for the project, expected by early next year.