Australia's Orion Minerals signs deal with Glencore unit for up to $250 million funding

(Reuters) -Australia's Orion Minerals said on Wednesday it has signed a non-binding term sheet with a unit of global miner Glencore for $200 million–$250 million funding for its Prieska copper-zinc project in South Africa. The diversified metal developer said that the deal includes an offtake agreement with Glencore to sell 100% of zinc and copper concentrates, among others, from the mine for a period ranging between five and 10 years. Orion will receive the funding in two tranches for the construction a ...