Orion Minerals (ASX:ORN) said it completed key conditions for its South African ventures for the development of its Okiep copper project, according to a Thursday Australian bourse filing.
The completion of the Black Economic Empowerment transactions for New Okiep Exploration and New Okiep Mining will enable the company to progress toward project financing following the finalization of feasibility studies.
The conditions included approval from the South African Takeover Regulation Panel and the closing date for the transactions will be Feb. 3.
Work on the definitive feasibility study for the Flat Mines project, the first mine it plans to develop at the Okiep project, is nearing completion, the filing said. External review by independent technical experts for the study has begun.
The definitive feasibility study for the Prieska copper-zinc mine is also being reviewed by independent experts.
Its shares rose 7% on market close.
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