Orion Minerals is on track to begin production at its Prieska Copper-Zinc Mine within the next two years, following successful investment mobilization. The Australian-based mining company, which operates two significant copper deposits in the Northern Cape, has attracted substantial funding to revive the once-dormant site.
Minister Mantashe Inspects Progress, Highlights Economic Potential
Mineral and Petroleum Resources Minister Gwede Mantashe visited the Prieska mine on Friday to assess development progress and explore further investment opportunities. The mine, which previously operated under Anglo American, is now being expanded to deeper levels previously untapped.
“This is a massive project—bigger than anticipated,” said Mantashe, who once worked at the mine for over seven years. “Orion Minerals reflects the importance of foreign direct investment. As an Australian company investing in South Africa’s copper reserves, they are contributing to the minerals of the future.”
Copper Demand Driven by Green Energy and AI Boom
With copper prices soaring due to high demand from the electric vehicle (EV) and artificial intelligence (AI) industries, Orion’s Prieska mine is strategically positioned to capitalize on the global shift toward renewable energy and advanced technology.
“Copper is one of the minerals of the future,” Mantashe emphasized. “Investing in copper means sustaining the green economy.”
Northern Cape: A Mining Growth Hub
The minister highlighted the Northern Cape as a key growth area for South Africa’s mining sector, alongside the North West and Limpopo provinces. Despite declines in gold mining, new investments in copper and other critical minerals are revitalizing the industry.
Orion’s initial investment of R1.2 billion is expected to expand to R7 billion over time, bringing jobs and economic activity to the region. Mantashe stressed the importance of local mineral beneficiation, urging companies to process raw materials domestically rather than exporting them.
“Exporting raw commodities means exporting wealth and jobs,” he said. “Value addition at the source creates employment and boosts the economy.”
A Revitalized Prieska
Once fully operational, the Prieska mine is expected to breathe new life into the local economy, reinforcing South Africa’s position in the global copper market. With production slated to begin by 2026, Orion Minerals is poised to play a pivotal role in the country’s mining resurgence.