The Industrial Development Corporation of South Africa Limited agreed to acquire 43.75% stake in New Okiep Mining Company Proprietary Limited from Orion Minerals Limited (ASX:ORN) on September 7, 2022. The acquisition will trigger pre-development funding arrangements for the Flat Mines SAFTA area, as announced on 7 September 2022. Upon NOM acquiring the SAFTA assets, the IDC will sell 22.22% of its shares in NOM to a BEECo.

The Industrial Development Corporation of South Africa Limited completed the acquisition of 43.75% stake in New Okiep Mining Company Proprietary Limited from Orion Minerals Limited (ASX:ORN) on November 14, 2022.