Abu Dhabi’s sovereign investment company ADQ and metals and materials investment firm Orion Resource Partners have entered into an agreement to establish a new joint venture in Abu Dhabi that will make strategic investments in the metals and mining sector to enhance supply chain security locally and globally.
The JV partners will commit to an initial capital investment of $1.2 billion over the first four years.
According to ADQ and Orion, the 50/50 joint venture, Orion Abu Dhabi, will invest in metals and mining companies and acquire strategic materials. The JV will focus on metals and minerals investments in various regions initially focusing on emerging markets in Africa, Asia and Latin America.
Orion Abu Dhabi plans to enter into long-term supply agreements for copper, iron ore and other key minerals that are essential to global supply chain security and the energy transition. According to ADQ, the manufacturing and clean energy industries will directly benefit from the supply of critical raw materials through Orion Abu Dhabi.
ADQ manages a portfolio of companies in key sectors of the Emirate of Abu Dhabi’s economy, including energy and utilities, food and agriculture, healthcare, transport and logistics.
Going forward, the Abu Dhabi office will expand Orion’s international presence to five offices worldwide.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
