Orion launches $1.8bn critical minerals consortium


Former US Assistant Secretary of State for Energy Resources and Orion CMC co-founder Frank Fannon
Investment firm Orion Resource Partners on Thursday launched the Orion Critical Mineral Consortium (Orion CMC), a new platform aimed at strengthening US economic competitiveness and national security through secure and responsible critical minerals supply chains.
The consortium, created in partnership with the US International Development Finance Corporation (DFC) and Abu Dhabi-based sovereign investment fund ADQ, launches with $1.8-billion in committed capital and a target of $5-billion.
The DFC’s initial commitment has been matched by Orion and ADQ.
Orion CMC will invest in and develop near-term producing critical mineral assets, prioritising projects that can quickly meet US and allied nations’ demand. The consortium will also manage offtake, support domestic processing and deploy cost-effective mineral technologies.
Former US Assistant Secretary of State for Energy Resources and Orion CMC co-founder Frank Fannon said the US had long recognised the need for alternative critical mineral supply chains. “However, America has lacked a private sector champion that understands niche metals and commodities, that has emerging markets experience, and a successful track record of building and operating complex mining operations. Orion CMC is well-positioned to be that champion,” he said.
Orion founder and CEO Oskar Lewnowski said the consortium married some of the best operators in the industry with the expertise needed to build a diversified portfolio of critical minerals assets across multiple jurisdictions. "We are delighted to have the backing of the DFC and look forward to working with our partners to deliver on the opportunity ahead of us."
The creation of Orion CMC follows the launch of Orion Abu Dhabi, a joint venture with ADQ announced earlier this year, furthering Orion’s strategy to strengthen global critical minerals supply chains through strategic partnerships.
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