# Orion’s US$40 million Prieska funding becomes unconditional

> The remaining conditions for the first Glencore financing tranche have been satisfied.

- Canonical URL: https://newsverum.com/en/news/orion-glencore-prieska-40-million-usd-funding-unconditional-2026
- Publisher: Newsverum
- Section: Business
- Country: South Africa
- Published: 2026-10-21T00:44:02+00:00
- Updated: 2026-10-21T00:44:02+00:00
- Event / data period: 2026-10-19
- Other editions: [Türkçe](https://newsverum.com/tr/news/orion-glencore-prieska-40-million-usd-funding-unconditional-2026.md), [العربية](https://newsverum.com/ar/news/orion-glencore-prieska-40-million-usd-funding-unconditional-2026.md), [Français](https://newsverum.com/fr/news/orion-glencore-prieska-40-million-usd-funding-unconditional-2026.md), [Español](https://newsverum.com/es/news/orion-glencore-prieska-40-million-usd-funding-unconditional-2026.md), [Deutsch](https://newsverum.com/de/news/orion-glencore-prieska-40-million-usd-funding-unconditional-2026.md), [Português](https://newsverum.com/pt/news/orion-glencore-prieska-40-million-usd-funding-unconditional-2026.md)

Orion Minerals said on 19 October that US$40 million of Glencore financing for the Uppers section of its Prieska copper-zinc mine in South Africa had become unconditional. First drawdown is expected by the end of October.

Uppers production is targeted for the end of 2027. A US$210 million second tranche for the Deeps remains conditional; the announcement does not say that this funding has been released or production has started.

## Data

### Orion’s US$40 million Prieska funding becomes unconditional

Methodology: Values are transcribed from the official release. The table unit and row description define the scope; no currency conversion or forecast is calculated.

| Indicator | Value |
|---|---|
| Tranche A, conditions satisfied | 40 |
| Tranche B, still conditional financing | 210 |

Sources: <https://www.orionminerals.com.au/wp-content/uploads/2026/10/20261019-ORN-ASX-JSE-Finalisation-of-Glencore.pdf> · Download data: [JSON](https://newsverum.com/api/v1/articles/orion-glencore-prieska-40-million-usd-funding-unconditional-2026/data/source-figures?lang=en&format=json) · [CSV](https://newsverum.com/api/v1/articles/orion-glencore-prieska-40-million-usd-funding-unconditional-2026/data/source-figures?lang=en&format=csv)

## Sources

- [Orion Minerals](<https://www.orionminerals.com.au/wp-content/uploads/2026/10/20261019-ORN-ASX-JSE-Finalisation-of-Glencore.pdf>) (Source checked: 2026-10-21; Published: 2026-10-19)

---

Cite the canonical URL above. [Editorial standards and corrections](https://newsverum.com/en/editorial)