In a whirlwind of corporate news, junior miner Orion Minerals made headlines with the announcement of a groundbreaking discovery in South Africa. The company revealed that recent test drilling at the Flat Mine East, part of the Okiep Copper Project in the Northern Cape, yielded the highest-grade copper result in the country in decades. This remarkable find sent Orion’s shares soaring by more than 30% on the JSE, with the company’s value reaching approximately R1.1 billion.
Orion’s Managing Director and CEO, Errol Smart, expressed his excitement over the discovery, highlighting the immense potential of the company’s mineral right holdings. He emphasized that previous owners had identified strong copper mineralization in numerous bodies but had not fully explored the discoveries due to low copper prices at the time. This latest development has reignited interest in the region’s mining potential and solidified Orion’s position as a key player in the industry.
Meanwhile, in the education sector, private school group Curro made a significant announcement regarding its leadership. The company named Themba Baloyi, an independent non-executive director with an impressive background in finance and entrepreneurship, as its chair-elect. Baloyi’s appointment is set to take effect after the upcoming AGM in June, marking a new chapter for Curro under his leadership.
These developments underscore the dynamic nature of South Africa’s business landscape and highlight the potential for growth and innovation in key sectors. As the country continues to navigate economic challenges, such discoveries and appointments serve as beacons of hope for a prosperous future.