Orion Minerals shared progress in acquiring the Okiep Copper Project, finalising agreements in stages pending conditions.

The deal, valued at about ZAR59.6 million ($4.9 million), combines cash, Orion shares, and inflation adjustments.

The initial settlement phase includes ZAR10.9 million ($892,797) cash and ZAR35.1 million ($2.9 million) in Orion shares upon South African Exchange Control approval.

The Okiep Copper Project, positioned approximately 570km north of Cape Town, involves acquiring mineral rights through Orion subsidiaries.