Orion Minerals Ltd.

Orion Minerals Ltd. is a junior copper development company headquartered in Melbourne, Australia, operating primarily in South America. The company's portfolio consists of 3 development projects. Key assets include Prieska. The organization's business model is centered on developing multiple, complementary production hubs that leverage shared operational and metallurgical technologies to achieve significant synergies. Processing capabilities include conventional froth-flotation concentration, with a strategic focus on incorporating advanced ore sorting techniques, such as X-ray fluorescence, to create a pre-concentrate before milling. This approach is designed to enhance efficiency and reduce operating costs. A key technological differentiator is the evaluation of an innovative metal vapour refining process, involving chloro and carbonyl metal vapour techniques, aimed at producing premium-value, high-purity refined metal powder products suitable for the chemical and electronics industries. This refining technology presents an opportunity for significant value uplift through local beneficiation. The operational philosophy integrates modern, 4IR-enabled technologies throughout the exploration and development cycle to drive improvements in safety, productivity, and environmental performance. The enterprise aims to establish an integrated value chain, from mining to the production of specialized, high-value products, positioning it as a supplier of refined materials with strong ESG credentials.

Strategic focus centers on a phased development approach for its assets, designed to facilitate early production and generate cash flow. This methodology aims to reduce peak external funding requirements and support a staged build-up toward full-scale commercial operations. The enterprise prioritizes the rapid development of brownfield prospects to leverage existing infrastructure and shorten timelines to production. Growth is pursued through a dual approach of organic expansion, by evaluating near-mine targets and resource extensions, and greenfield exploration in historically under-explored districts. A core objective is to diversify the mix of commodities to meet growing demand for materials critical to global decarbonization and renewable energy technologies. The organization employs advanced geological and geophysical techniques to discover new deposit clusters and build a sustainable growth pipeline. This strategy is intended to transform the entity into a significant, diversified producer by systematically advancing its portfolio of development assets and exploration targets.

Executive leadership is headed by a Managing Director and CEO who is a geologist with 30 years of industry experience and serves as a Director on the Board of the Mineral Council of South Africa. The board of directors is composed of 6 members, including 1 executive director and 5 non-executive directors, who bring extensive technical, operational, and corporate management expertise from senior roles at major global resource companies such as Anglo American and Rio Tinto. A board renewal process is underway to align director skill sets with the company's transition into an operating entity. The governance framework is demonstrated by a high level of engagement, with 28 board meetings and 4 audit committee meetings held during the 2024 fiscal year. The board includes members with specialized experience as chartered accountants, mining engineers, and metallurgists, with deep knowledge in project development, corporate finance, and ESG leadership. This structure provides robust oversight for strategic development and operational execution.

A key differentiator in the company's social strategy is its Community Participation Framework, which establishes aspirational targets of achieving 50% host community employment, 30% local procurement of goods and services, and 40% subcontracting opportunities. This pioneering approach to community involvement was recognized with the AAMEG Emerging ESG Leader Award for 2 consecutive years in 2023 and 2024. The organization maintains a strong safety record, reporting a Lost-Time Injury Frequency Rate of zero per 200,000 hours worked and achieving 1,773 days without a lost-time injury as of the end of the fiscal year. Environmental management focuses on a low-carbon footprint, with active consideration of renewable energy sources such as solar and wind, as well as hydrogen energy storage. The company also contributes to public infrastructure planning and implements training, development, and upskilling programs to prepare host communities for active participation in its operations. No environmental incidents were recorded during the financial year.

The corporate structure includes a significant joint venture with IGO Limited, where IGO is responsible for funding and conducting all exploration activities through to the first pre-feasibility study on a shared project. Another key partnership involves a 50% interest and management role in a project alongside Namaqua Nickel Mining (Pty) Ltd. A recent structural development in 2023 involved the transfer of a key mining right to the subsidiary New Okiep Mining Company (Pty) Ltd as part of a multi-phase asset acquisition. This subsidiary also involves a partnership with the Industrial Development Corporation of South Africa Ltd (IDC), which holds a significant equity stake and provides project funding. The ownership base includes several substantial shareholders, with Ndovu Capital X BV, Clover Alloys Copper Investments (Pty) Ltd, and Delphi Unternehmensberatung Aktiengesellschaft being prominent investors as noted in the company's register.