Orion Minerals has launched a share purchase plan allowing eligible shareholders to buy new shares priced at 1.5 cents each.

The plan aims to raise up to $5 million, primarily to fund the ongoing development of the Prieska Copper Zinc Mine and Okiep Copper Project in South Africa, as well as support exploration and general working capital needs.

The share purchase plan, open to shareholders in Australia, New Zealand, and the UK, closes on July 23.