Black Economic Empowerment (BEE) is a South African government policy designed to facilitate broad based economic participation of black people in the South Africa economy.
Orion is fully committed to the principles of BEE and in particular, the 30% Historically Disadvantaged South Africans (HDSA) ownership objectives of the Mining Charter 2018, recognising it as an important policy instrument to increase equality, broaden South Africa’s economic base, stimulate economic growth and create employment.
The Company’s flagship Prieska Copper Zinc Mine is 30% owned by HDSAs, including 20% by black entrepreneurs, 5% by staff through an Employee Trust and 5% by host communities through a Community Trust.
To help our BEE partners fund their acquisition stake, Orion provided vendor financing comprising a loan and preference shares.
A corresponding BEE ownership approach is being followed for the Okiep Copper Project.
This makes Orion one of the only junior explorers in Africa to have empowered its workers and community by putting structures in place to facilitate funding and assisting in the sourcing of finance from development finance agencies.
Orion’s Prieska Copper Zinc Mine BEE partners are:
Predominantly invested in manganese through its investment in and management of Ntsimbintle Holdings, which owns an effective 37% stake in Tshipi é Ntle Manganese Mining. Tshipi é Ntle Manganese Mining, in partnership with Australia’s Jupiter Mines (ASX/JSE: JMS), mines Tshipi Borwa, an open-pit manganese mine situated in South Africa’s Northern Cape Province. Ntsimbintle Holdings also holds a 9% stake in Hotazel Manganese Mine and an extensive portfolio of prospecting rights and strategic partnership investments. In addition to its extensive operational experience, Safika and its subsidiaries have exemplary community relations and through its support of community structures has touched the lives of thousands. Safika has demonstrated real transformation by honouring communities hosting their mining operations.
Black Star Minerals
A 75% black-female-owned mining investment business led by Prieska-born Jowell Tobias and business partner Sharon Matthews. Black Star has extensive experience in project finance and management and brings significant technical capacity via its 51% held subsidiary Gariep Mining and Exploration Services. Through Gariep, the Black Star team has experience in developing and operating mining projects, including the development of both open pit and underground mining and processing operations. Gariep is a partnership with Lutzville Engineering and is based in the Northern Cape, specialising in contract mining and processing, plant design, project management, fabrication, labour hire, plant hire and other mine related consultancy services.
Kolobe Nala Investment Company
A family-owned company led by Billy Mawasha. Billy was previously Rio Tinto Country Head for South Africa and the Managing Director of Richards Bay Minerals. His professional experience includes positions with Rio Tinto, Anglo American (Kumba Iron Ore), De Beers Group and AngloGold Ashanti. He has worked in South Africa, Ghana, Namibia, Botswana, Tanzania, Mali and Guinea in leadership, operational and technical roles. In 2017, Billy was selected as a Young Global Leader of the World Economic Forum. In 2016, Billy was included in the South African Financial Mail Little Black Book as one of the country’s top black leaders who want to lead South Africa to great things. He is a member of the Board of Metair Investments and Wits Mining School Industry Advisory Council.
Orion’s Okiep Copper Project BEE partners are:
Industrial Development Corporation (IDC)
The Industrial Development Corporation (IDC) was established in 1940 through an Act of Parliament and is fully owned by the South African Government. The Corporation pursues development impact through job-rich industrialisation and contributes to an inclusive economy by, among others, funding black-owned and black-empowered companies, black industrialists, women and youth-owned enterprises. For more information visit www.idc.co.za.
Lulamile Xate has a wide range of business experience. He is an ex-political prisoner and read for his B Com through UNISA while being incarcerated on Robben Island. Lulamile also has qualifications from the University of Murdoch, Perth in Australia, where he studied energy management and renewable energy systems at postgraduate level. Having completed articles at PwC, he has developed a number of successful businesses in the fishing, gas, eco-tourism, agriculture, bioenergy and forestry industries and was and is a director and chairman of a number of unlisted and listed companies. He also has interests in gold and copper mining.