Orion (Orion Resource Partners) and ADQ have entered into a JV set to initially focus on emerging metal and mining markets in Africa, Asia, and Latin America. The initial first four years investment by the 50/50 JV stands at $1.2bn. The Orion, ADQ JV is geared towards strengthening UAE’s supply chain in the metals and mining sector globally.
The initial investment will be financially-centered, focused on buying shares, providing loans, and securing production deals. Also of intent strategic focus by the Orion, ADQ JV is the creation of long-term agreement to acquire essential minerals like copper and high-grade iron ore. These among others have been termed critical to the “global supply chain security” and the “energy transition” by official statement on the JV. The sourcing of the raw materials is will be of benefit to the manufacturing and (clean) energy industries.
The Orion, ADQ JV falls under ADQ’s Infrastructure and Critical Minerals cluster that is aimed at delivering long-term financial returns. The JV will see investments across assets classes. Also within the ring of latest investments by ADQ is Alpha Dhabi Construction and Plenary Group. With the financial returns set for the local (Abu Dhabi) economy, the formed cluster will not fall short of its goals.
Heading the culmination of a strong global reach, minerals and mining sectors expertise, and transactional experience is Orion’s Philip Clegg. The former Managing Partner will also oversee the expansion of Orion’s global reach. This will push their number to up to 5 global offices after the latest Orion, ADQ JV.
Also in sight of the Orion Abu Dhabi partnership is the need to support global decarbonization goals. This also includes the advancement of sustainable production of resources much needed in our industrialized world.
The “best-in-class” mining projects that will be sourcing funds from the ADQ, Orion JV in their ventures in Africa, Asia, and Latin America will benefit both the global and Abu Dhabi’s economy. The target companies will be those focusing on urbanization and societal development. Also of interest will be those in clean energy, as chiefly deduced by Orion Abu Dhabi office head.
Much is expected of this partnership. A rather “natural step” for the ADQ group as put by their Deputy Group CEO, Hamad Al Hammadi.
Also read: CNOOC-Shell JV invests $8bn in petrochemical projects in South China
Also read: TotalEnergies Delays $20 Billion Mozambique LNG Project Once Again
