US launches $1.8 billion fund with ADQ and Orion to secure critical minerals

Dubai: The US has launched a new $1.8 billion investment fund with Orion Resource Partners and Abu Dhabi’s sovereign wealth fund ADQ to strengthen access to critical minerals.

The initiative, led by the US International Development Finance Corporation (DFC), marks one of the most significant steps yet under President Donald Trump’s drive to secure minerals vital to energy transition, defence manufacturing and advanced technologies. The DFC, Orion and ADQ have each committed capital to form the Orion Critical Mineral Consortium, which aims to build a total pool of up to $5 billion.

The DFC said the partnership will “develop secure, responsible, and resilient supply chains for the critical minerals that underpin future economic growth and security.” It follows a week of major US mineral diplomacy, including an agreement with Australia to expand access to rare earths and talks with the Democratic Republic of Congo, the world’s top cobalt producer and a major source of copper.

Ben Black, chief executive officer of the DFC, called the move a strategic priority. “Securing critical minerals is a paramount matter of US strategic interest and economic prosperity,” he said. “Orion CMC was created to establish a robust pipeline of secure critical mineral investments vital to advancing American economic prosperity. I’m proud of the incredible work by DFC and its partners to secure these vital resources, which will safeguard America’s leadership in advanced technologies.”

The Orion consortium will prioritise investments in existing or near-term producing assets rather than early-stage exploration. This approach is designed to speed up development and minimise exposure to long project lead times that have historically hindered Western efforts to diversify supply.

Orion, which manages around $8 billion across private equity and commodity trading, had earlier this year formed a $1.2 billion venture with ADQ to invest in energy and materials.