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Orion Minerals plans to acquire the Okiep Copper Complex
Orion Minerals has announced a plan to acquire the Okiep Copper Complex (OCC) in the Northern Cape, in a deal worth approximately R85.5 million.
The Australia and JSE-listed firm said the complex has a potential to become a future second base metal production hub for the company in the Northern Cape alongside its flagship Prieska Copper-Zinc Project, which is the company is developing 450 kilometres east of OCC.
Orion will hold a 56.25% stake in Tantalum Mining with 43.75 % controlled by the Industrial Development Corporation (IDC). The company will take full ownership of the other two companies, Nababeep Copper Company and Bulletrap Copper Company.