Abu Dhabi’s ADQ Forms $1.2B Mining Joint Venture With Orion Resource Partners

Orion Abu Dhabi will invest in metals and mining companies across Africa, Asia and Latin America.



ADQ—the Abu Dhabi Developmental Holding Co.—a $225 billion Abu Dhabi-based sovereign wealth fund, has formed a 50-50 joint venture with Orion Resource Partners USA L.P., the fund
announced Thursday. The venture, Orion Abu Dhabi, will target investments in metals and mining companies, initially focused on emerging markets in Africa, Asia and Latin America.  

According to the announcement, the venture will deploy an initial $1.2 billion of capital over the course of the next four years. The new group seeks to make investments across equity, debt and production-linked instruments, with a focus on minerals critical to energy transition, economic growth and supply chain security. 

“As part of its investment strategy, Orion Abu Dhabi will secure long-term agreements to source essential minerals, including copper, high grade iron ore, and other key commodities important for global supply chain security and the energy transition,” ADQ stated in the announcement. 

Orion Resource Partners manages $8 billion in assets for institutional investors across liquid and less liquid strategies in the mining and resources sectors. Its portfolio companies include lithium, silver and gold mines and other resource companies. 

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The joint venture will become part of ADQ’s recently established infrastructure and critical minerals cluster, which has investments in other infrastructure and resource investors like Alpha Dhabi Construction holdings and the Plenary Group. The goal of the group is to contribute to the city’s economy and help downstream industries, such as manufacturing, deal with challenges sourcing critical materials.  

ADQ is a significant investor in resources and infrastructure; its portfolio is comprised of companies in the energy and utilities; food and agriculture; sustainable manufacturing; infrastructure and critical metals; real estate, health care and life sciences; and financial sectors. The sovereign fund provided Abu Dhabi with 22% of its non-oil revenue in 2023. 

“As a long-term investor, we are committed to ensuring that our portfolio companies are set up for success in an ever-changing operating environment,” said Hamad Al Hammadi, ADQ’s deputy group CEO, in a statement. “The establishment of Orion Abu Dhabi is a natural step for us, allowing our companies to execute their ambitious growth plans with the assurance of a resilient supply of essential resources.” 

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Abu Dhabi’s ADQ to Take Minority Stake in Sotheby’s for $1B 

Abu Dhabi Pension Fund and ADQ to Invest $2.1 Billion in Gas Pipelines 

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