ADQ forms $1.2bn JV with Orion Resource Partners in mining

Photo : Abu Dhabi Media Office

ADQ (Abu Dhabi Developmental Holding Company) has teamed up with Orion Resource Partners to create a new company in Abu Dhabi. This new company will focus on investing in the metals and mining industry. The goal is to improve the supply of important materials in the UAE and around the world. They plan to invest US$1.2 billion over the first four years.

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The new company, named Orion Abu Dhabi, will be based in Abu Dhabi Global Market (ADGM). It will invest in mining companies using different financial ways, such as buying shares, giving loans, and making agreements based on production, like royalties, revenue shares, and purchase deals. Orion Abu Dhabi will look to invest in important metals and minerals, especially in regions like Africa, Asia, and Latin America.

A key part of this investment plan is to secure long-term deals to get important minerals like copper, high-grade iron ore, and other materials needed for global supply and energy transition.

This partnership supports ADQ’s goal of investing in projects that bring value to Abu Dhabi. The new company with Orion is part of ADQ’s group focused on Infrastructure and Critical Minerals. This group also includes other investments in companies like Alpha Dhabi Construction Holding and Plenary Group. The goal is to help Abu Dhabi’s economy grow while strengthening its investment in areas like manufacturing and clean energy. These sectors will benefit from the materials supplied through Orion Abu Dhabi.

The new company will benefit from ADQ’s global network and Orion’s years of experience in the industry. As the company grows, it will use both ADQ’s strong position and Orion’s deep knowledge. Orion’s office in Abu Dhabi will be its fifth worldwide. Philip Clegg, the Managing Partner at Orion, with over 20 years of experience, will lead the office.

Hamad Al Hammadi, Deputy Group CEO of ADQ, said that setting up Orion Abu Dhabi is an important move. He explained that it will make sure ADQ’s companies have a steady supply of important resources to help them succeed.

Oskar Lewnowski, the CEO of Orion, said the new company will bring Orion’s proven way of working to Abu Dhabi. He added that it will help make sure key material supply chains are strong, support efforts to reduce carbon emissions, and bring long-term value to the UAE economy.

Philip Clegg also said that Orion Abu Dhabi will invest in mining projects that support the world’s growing needs, like more people living in cities, developing societies, and moving to cleaner energy. He added that the new company will help Abu Dhabi’s economy grow while supporting the UAE’s role in the global green economy.

ADQ manages over 25 companies in more than 130 countries. These companies work in important areas of Abu Dhabi’s economy, including energy, food, healthcare, and transport. This new partnership with Orion is part of ADQ’s plan to strengthen the economy and help it grow for the long term.