ADQ, Orion launch USD 1.2 bn JV for critical minerals: Abu Dhabi sovereign wealth fund ADQ and US-based Orion Resource Partners formed a 50-50 JV to invest USD 1.2 bn in metals and mining over the next four years, ADQ said in a statement. The new entity, Orion Abu Dhabi, will be headquartered in the ADGM and will focus on securing critical minerals essential for global supply chain stability and the energy transition.

The joint venture will initially target mining companies in Africa, Asia, and Latin America, deploying capital through equity investments, senior debt, royalties, revenue shares, and purchase agreements. It will also secure long-term agreements to source essential minerals, including copper, high grade iron ore, and other essential commodities needed to support industries such as manufacturing and clean energy.

Orion Abu Dhabi will fall under ADQ’s Infrastructure & Critical Minerals cluster, which also includes Alpha Dhabi Construction Holding and Plenary Group.

The joint venture will be led by Philip Clegg (LinkedIn), Orion’s former managing partner, bringing over 20 years of experience in natural resources and mining investments. The new Abu Dhabi office will be Orion’s fifth global presence.

The emirate has been actively investing in strategic raw materials, with the International Holding Company’s mining arm International Resources Holding (IRH) investing USD 1.1 bn in a Zambian copper mine in 2023,. IHC has also reportedly bid over USD 1 bn for Mumbai-based Vedanta's stake in Zambia's Konkola Copper Mines, and was mulling the acquisition of a stake in a tin mine in the Democratic Republic of Congo, signaling the UAE’s growing focus on critical metals needed for industrial and clean energy applications.

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