UAE’s ADQ + Orion partner on USD 1.2 bn mining project: Abu Dhabi’s state-owned holding company ADQ has signed a 50/50 joint venture agreement with US-based Orion ResourcePartners to inject initial capital of USD 1.2 bn into mining and critical minerals, according to a statement on Thursday. The JV — called Orion Abu Dhabi — plans to funnel this initial investment over the next four years.

The details: The Abu Dhabi-based JV will invest in mining companies’ assets via equity purchases, loans, royalties, and flows. It will also pursue offtake and long-term agreements to secure metals essential to the green transition, such as copper and high-grade iron ore, from Africa, Asia, and Latin America. The JV will also support ADQ’s downstream sectors such as manufacturing and clean energy.

Other UAE players are doubling down on critical metals like Copper: International Holding Company’s mining investment arm, International Resources Holding (IRH), acquired a 51% stake in Zambia’s Mopani cooper mine for USD 1.1 bn back in April, and was reportedly eyeing a majority stake in the country’s Lubambe copper mine. It also announced plans in October to establish a copper trading hub in Abu Dhabi and aims to trade over 500k tons of green copper annually starting in 2025. The company was also reportedly eying nickel mining in Burundi.

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