South Africa’s State-owned IDC to convert Orion loan facility into equity

South Africa’s State-owned Industrial Development Corporation (IDC) has agreed to convert its convertible loan facility to the Sydney-and Johannesburg-listed Orion Minerals into equity. Orion is reviving the fully permitted Prieska copper/zinc mine (PCZM) in South Africa’s Northern Cape, which last operated in 1991mining resource of 31-million tonnes at 1.2% copper and 3.6% zinc.