IDC provides funding for Orion Minerals' Okiep project

The Industrial Development Corporation of South Africa (IDC) has struck a deal with copper developer Orion Minerals to fund 43.75% of the pre-development costs and facilitate black economic enterprise (BEE) ownership at the Okiep project, in South Africa.

Under the terms of the agreement, the IDC will become a major shareholder in the New Okiep Mining Company (NOM), alongside Orion, which will hold 56.25% of NOM’s ordinary shares.