Orion Minerals is set to secure a $250m binding prepayment facility from Glencore to support the development of its Prieska Copper Zinc Project in South Africa. The agreement, executed through Orion's subsidiary, Prieska Copper Zinc Mine (PCZM), involves the sale of bulk copper and zinc concentrates, facilitating the Uppers Development and partially funding the Deeps Development at the project. This marks a significant advancement in Orion’s move towards full operational status. The prepayment facility ...

Core Insights - Orvana Minerals Corp. has secured a US$25 million prepayment facility and entered into offtake agreements with Trafigura for copper cathodes and doré bars from the Don Mario Operation in Bolivia [1][3][7] Financial and Operational Updates - The proceeds from the prepayment facility will fully fund the remaining capital needed for the Don Mario plant expansion, with 69% of the forecasted project CAPEX disbursed as of October 2025 [2] - Construction of the Don Mario plant is on track for completion by year-end 2025, with commissioning and start-up expected in early 2026 [2] - EMIPA has filed its unaudited financial statements for the period ended September 30, 2025, with Bolivia's financial regulator ASFI [5] Transaction Details - The prepayment facility has a 13-month term, including a 7-month interest-only period, and bears interest at SOFR + 8% per annum, with repayments in equal monthly installments over six months [7] - EMIPA has agreed to sell 100% of the life-of-mine production of copper cathodes and doré bars to Trafigura, with pricing based on the London Metal Exchange and the London Bullion Market Association [7] Company Overview - Orvana is a multi-mine gold-copper-silver company with operations in Spain, Bolivia, and Argentina [8]