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South Africa

Okiep (Flat Mines) Project

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Summary

Mine TypeUnderground
Study CompletedFeasibility
StageFully Permitted
Commodities
  • Copper
Mining Method
  • Vertical Crater Retreat
  • Longhole stoping
Backfill type ... Lock
Mine Life... Lock
SnapshotDefinitive Feasibility Study (DFS) for the Flat Mines (FM) Project, part of Orion’s Okiep Copper Project (OCP) was completed on March 28, 2025.

Underground mining is planned at four areas: the historically mined Flat Mine North (FMN) and Flat Mine Nababeep (FM-Nab) mines, and the previously unmined deposits at Flat Mine East (FME) and Flat Mine South (FMS).

The Flat Mines will be developed using a phased approach.
Phase 1: Development of FMN only for a period of 24 months and plant construction for 50% of processing capacity.
Phase 2: production from FME will be combined with FMN to achieve to 100% of processing design.

Mining Right secured in 2022, meaning the project is fully permitted.

Next steps are to advance:
• Project financing;
• Project implementation planning;
• Concentrate offtake negotiations;
• Agreements with service providers for key early works activities and long lead time items.

Owners

SourceSource
CompanyInterestOwnership
Industrial Development Corporation 19.37 % Indirect
Orion Minerals Ltd. (operator) 50.63 % Indirect
The Flat Mines Project (FM Project) is held by New Okiep Mining Company (Pty) Limited (NOMC).

NOMC’s FM Project is held by Orion Minerals Ltd. (Orion) through its South African subsidiary Area Metals Holdings No.6 (Pty) Limited (AMH6) (50.63%), with the balance of the shareholding held by the Industrial Development Corporation of South Africa (IDC) (19.37%), Landmark Capital (BEE Entrepreneur) (20%), Orion Nama Khoi Employee Trust (5%), Orion Nama Khoi Community Trust (5%).

Contractors

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Deposit type

  • Intrusion related

Summary:

The Flat Mines (FM) Project is located in an area commonly referred to as the Okiep Copper District and includes four deposits: FMN, FME, FMS and FMNb.

The copper mineralisation in the FM Project occurs in mafic intrusives as irregular shaped lenses with the mining cut-off often not a sharp contact but based on an economic grade cut-off.

Local geology
The FM Project MR is largely underlain by Concordia Granite with some areas of Rietberg Granite and scattered outcrops of metasediment, anorthosite and diorite of the Koperberg Suite. Diorite is the most prospective rock type in the area and these mafic rocks form a very distinctive curvilinear trend towards the east. Diorite as sills (FMN) and dykes (FME and FMS) are less common and are predominantly hosted within the anorthosite.

FMN
Copper mineralisation at FMN is hosted predominantly in anorthosite, biotite-diorite and glimmerite. The mafic rocks occur on the northern flank of a broad east-west striking antiform in Concordia Granite gneiss. The mafic rocks intruded the Concordia granitic gneiss in a lit-par-lit style to form a sill complex consisting of inter-banded mafic rocks and granitic gneiss. The highest copper grades occur within the biotite-diorite and glimmerite where it intruded close to the base of the sill complex.

The geometry of the FMN deposit does not conform to the general attitudes of mineralised bodies in the Okiep Copper District. The deposit strikes for 600m north-south with a shallow plunge to the north and then makes a dogleg in the north to continue eastward on an east-west strike direction. FMN has been divided into three mineralised bodies (MB) namely: FMN-MB1, FMN-MB2 and FMN-MB3.

FMN-MB1 occurs in a channel like feature at the base of the sill complex. This has resulted in the formation of a 250m long, 40m wide and 15 - 50m thick sausage shaped mineral deposit that plunges at 45° northwest for the initial 80m and then flattens out to near horizontal for the next 130m. The plunge direction changes from 345° to due north after 400m and then increases again to 45° for 400m, where the FMN-MB1 mineralisation pinches out. Mineralisation reaches a maximum depth of 120m below surface on the 640m (AMSL) level in FMN-MB1. The mineralisation envelope interpreted for the Mineral Resource estimation was broadly defined on a 0.5% Cu cut-off with exceptions to maintain continuity.
Mineralisation continues again 90m to the north of FMN-MB1 on the 660m level. FMN-MB2 continues for 250m along the same north trend as FMN-MB1 but plunges shallowly at 2° to 25°. The mineralised body attains the same irregular sausage shape, albeit thinner than in FMN-MB1, at 10 - 15m thick and 25 - 50m wide. Mineralisation is hosted by dark biotite rich diorite within a larger anorthosite body. The mafic body is more constrained than the sill complexes hosting FMN-MB1and MB3.

At FMN-MB3, the strike of the mineralisation abruptly changes to east-west, plunging shallowly towards the east for 250m at a depth of 170 to 250m as an irregular lens-shaped body up to 20m thick. Copper mineralisation in this area is hosted by glimmerite and biotite-rich diorite developed at the base of a northerly dipping, 170m thick sill complex.

FME
At FME, the main mafic intrusive massif is approximately 970m long and 20 to 80m wide. The intrusive strikes at 65° ENE and dips 50° - 75° WNW. The mafic body occupies an ENE trending steep structure within the Concordia Granite and Wolfram Schist. Unlike at FMN and FMS, diorite is not as volumetrically important as norite, which hosts the bulk of the mineralisation. The volume proportion of norite in the mafic body increases to the east. Anorthosite is more erratically mineralised with lower grades.

Drilling has defined three mineralised bodies namely: FME-MB1, FME-MB2 and FME-MBW. Mineralisation is concordant with the steep dip of the main mafic intrusive body. Significant zones of unmineralised tabular or lenticular xenoliths of Concordia Granite occur in both FME-MB1 and FMS-MB2 mineralised bodies.

FME-MB1 is the main mineralised body and occurs over a strike length of 500m. Mineralisation starts at 115m below surface and continues down dip for a maximum of 250m. The width of the mineralisation reaches up to 80m.

FME-MB2 is a smaller body developed structurally above and in the northeastern section FME-MB1. Mineralisation strikes east-west and dips towards the north at 70°. The top of the mineralisation is 25m below surface and it extends down dip to 200m below surface. The total strike length for FME-MB2 is 125m and the maximum true width is approximately 20m.

At FME-MBW mineralisation is predominantly hosted by diorite.

FMS
Interpretation of drilling indicates that a single mineralised body is present at FMS (FMS-MB1) which has an irregular but continuous east-west strike. The interpreted mineralised body has a strike length of 570m, down dip extent of 530m and a maximum width of 30m. The overall dip of the mineralised body is approximately 40° - 60° but steepening to 80° in the deeper sections. The thicker anorthosite tends to be poorly mineralised and more biotite rich and hybrid-diorite varieties carry blebby rather than disseminated sulphides.

FM-Nab
At FM-Nab, mafic rocks of the Koperberg Suite consist mainly of anorthosite, biotite diorite and biotite schist. The anorthosite does not host economic copper mineralisation. The FM-Nab mafic intrusive complex outcrops continuously over 1,300m, striking at 70° east of north.

The eastern end of the complex terminates against the Flat Mine Fault while the mafic rocks in the west pinches out approximately 820m WSW of FM-Nab. The dyke-like complex can be up to 100m wide and is vertical to steep northerly dipping. It is commonly intercalated with Concordia granite. In the vicinity of the shaft, 50m of Concordia granite separates the complex into a northern, 35m wide, biotite diorite and biotite schist-dominant dyke that host the FM-Nab deposit and a southern anorthosite-dominant dyke.

Surface mapping, drilling and mine plans shows copper mineralisation to occur over a strike length of 180m with the mineralised body terminating against NNE striking D4 faults on both the eastern and western sides. Mining reached a depth of 150m from surface with an average width of less than 4m. From underground mapping and sampling the mineralisation was reported as lenticular with erratic grades. The mineralised biotite diorite and biotite schist is segmented by unmineralised anorthosite. The best mineralisation is confined to the contact zones with the highest grades developed in the eastern part of the mine where a fairly massive body of high-grade ore was developed.

Reserves

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Mining Methods

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Required Heavy Mobile Equipment

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Comminution

Crushers and Mills

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Processing

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Commodity Production

Based on the sorting testwork, the plant, from milling onward, was designed assuming a discard of 15% m/m mass rejection.

Nameplate production of 9,300tpa contained copper will be attained and maintained for three years based on the LOM plan.
CommodityProductUnitsAvg. AnnualLOM
Copper Concentrate kt 22 *259 *
Copper Metal in concentrate M lbs 14 *173 *
* According to 2025 study.

Operational metrics

Metrics
Hourly processing rate  ....  Subscribe
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Annual processing capacity  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2025 study.

Production Costs

CommodityUnitsAverage
Cash costs Copper USD  ....  Subscribe
All-in sustaining costs (sold) Copper USD  ....  Subscribe
Assumed price Copper USD  ....  Subscribe
* According to 2025 study / presentation.

Operating Costs

CurrencyAverage
UG mining costs ($/t milled) ZAR  ....  Subscribe
Processing costs ($/t milled) ZAR  ....  Subscribe
* According to 2025 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M ZAR  ......  Subscribe
Sustaining CapEx $M AUD  ......  Subscribe
Income Taxes $M AUD  ......  Subscribe
Net revenue (LOM) $M AUD  ......  Subscribe
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Pre-tax NPV @ 8% $M AUD  ......  Subscribe
After-tax NPV @ 8% $M AUD  ......  Subscribe
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After-tax payback period, years  ......  Subscribe

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 23, 2026
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Workforce

EmployeesYear
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Aerial view:

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