The Abu Dhabi sovereign wealth fund ADQ, the Donald Trump administration, and Orion Resource Partners LP (Orion) have become part of a three-member consortium investing in a critical minerals fund, bringing the total capital commitment to USD 1.8 billion.
Orion Critical Mineral Consortium (Orion CMC or the consortium), formed with Orion, an investment firm specialising in metals and materials, along with the US International Development Finance Corporation (DFC), will deploy the fund to support the world’s largest economy and its partner nations to develop supply chains for critical minerals.
“The DFC, which is the international investment arm of the US government, has made an initial capital commitment, which has been matched by both funds managed by Orion and ADQ, bringing the current size of the consortium to USD 1.8 billion, with a USD 5 billion target,” a statement read.
Led by Orion, the consortium will be bringing together metals, mining investors and operators to create a multi-billion-dollar platform for critical minerals investments, apart from investing in and developing critical minerals in emerging and other market jurisdictions, managing offtake, developing domestic processing, and integrating and scaling cost-effective minerals technological solutions.
“The initiative represents a significant step forward in bridging the substantial funding gap needed to accelerate investment in the critical minerals supply chain, while at the same time boosting US economic growth,” said Orion Resource Partners CEO Oskar Lewnowski.
The mega initiative comes amid Washington’s broader efforts to counter Beijing’s dominance over global mineral supply chains, particularly in materials such as copper, cobalt and rare earth elements (REEs), which are essential to the defence industry and the global energy transition.
It is worth mentioning that China has tightened mineral export controls, particularly on REEs and magnets, citing responses to tariffs and broader trade tensions with the Donald Trump administration.
The new controls, which will be fully effective by December 2025, will require foreign firms to obtain Chinese government approval to export magnets and products made with Chinese technologies or REEs, even in trace amounts.
Fearing REE-related disruptions from China, Washington has already moved to strengthen mineral ties with allies. The Trump administration has already signed a landmark agreement with Australia to boost access to rare earths and other critical materials.
It is also negotiating a similar bilateral deal with the Democratic Republic of Congo (DRC), the world’s largest cobalt producer and a key copper supplier. Since Trump’s return to the White House, the Republican government has been making direct equity investments in mining companies to secure strategic resources.