Australian base metals firm Orion Minerals, with an active exploration and development programme in South Africa, yesterday listed in the gold mining sector on the main board of the JSE.
The company - which focuses on zinc, copper, nickel, gold and platinum-group elements in South Africa and Australia - became the 13th firm to list on the bourse this year.
Head of primary markets at the JSE, Prejelin Naggan, said the exchange was privileged to welcome a new foreign company to the market and the South African economy.
“The JSE is proud to be able to assist Orion Minerals in its development strategy in South Africa. This listing is testimony that this country continues to draw global companies, and the listing will also broaden the range of mining assets to which investors can get exposure on the JSE,” he said.
Naggan said by listing on the JSE - one of the top 20 exchanges in the world in terms of market capitalisation - Orion Minerals could grow its potential South African investor pool.
“The listing gives Orion Minerals access to the deep pools of capital that flow through the JSE and it, therefore, offers a platform for the company to expand its fund-raising opportunities.”
Orion Minerals chief executive Errol Smart said the listing was a momentous day for the company.
“We're proud to be a part of the prestigious JSE family. We view the JSE listing as providing Orion Minerals with an additional market for the efficient funding of our South African projects, and to raise our profile here,” he said.
“Our key project is the advanced Prieska Zinc-Copper Project, which was previously operated between 1971 and 1991, and is located in the Northern Cape. Orion has a proven track record, with an experienced leadership and technical team, and we are confident that we can fast track development at Prieska, which has near-term production potential.”