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The Abu Dhabi sovereign wealth fund ADQ, the US government, and Orion Resource Partners LP (Orion) are part of a three-member consortium investing in a critical minerals fund, bringing the total capital commitment to $1.8 billion.
Orion Critical Mineral Consortium (Orion CMC or the consortium), formed with Orion, an investment firm specialising in metals and materials, along with the US International Development Finance Corporation (DFC), will deploy the fund to support the US and its partner nations to develop supply chains for critical minerals.
The DFC, which is the international investment arm of the US government, has made an initial capital commitment, which has been matched by both funds managed by Orion and ADQ, bringing the current size of the consortium to $1.8 billion, with a $5 billion target, a statement read.
Led by Orion, the consortium intends to bring together metals and mining investors and operators to create a multi-billion platform for critical minerals investments. The consortium will invest in and develop critical minerals in emerging and other market jurisdictions, manage offtake, develop domestic processing and integrate and scale cost-effective minerals technological solutions.
Orion CMC will prioritise investments in existing or near-term producing assets.
(Writing by Bindu Rai, editing by Seban Scaria)
