Abu Dhabi's sovereign wealth fund ADQ has partnered with Orion Resource Partners to establish a joint venture focused on investing in metals and mining. The 50-50 JV will initially invest $1.2 billion over four years in mining companies operating in emerging markets across Africa, Asia, and Latin America.
Abu Dhabi sovereign wealth fund ADQ has teamed up with Orion Resource Partners to form a joint venture that will invest in metals and mining, ADQ said on Thursday, as the wealth fund expands its critical minerals portfolio.
Under the 50-50 JV, which will be based in the UAE’s capital, ADQ and global investment firm Orion will initially invest $1.2 billion over four years in mining companies in emerging markets in Africa, Asia and Latin America, the fund said in a statement.Established in 2018, ADQ has a broad portfolio of domestic assets, including energy, healthcare, as well as transport and logistics such as Abu Dhabi state carrier Etihad Airways.
The fund had $225 billion in assets under management at the end of June and has been investing in sectors that could help oil-rich Abu Dhabi speed up economic diversification plans aimed at cutting reliance on oil revenues. “Downstream sectors such as manufacturing and clean energy are expected to directly benefit from the sourcing of critical raw materials” through the JV, ADQ said.
It will be part of the wealth fund’s infrastructure and critical minerals cluster, which includes Australian infrastructure investor Plenary Group.India approves $1.88bn to develop critical minerals sectorSeAH will purchase all material produced at Almonty's Sangdong molybdenum project in Korea, which is targeting production by the end of 2026.India is the world's largest centre for cutting and polishing diamonds, accounting for nine out of 10 diamonds polished globally.
INVESTMENT MINING CRITICAL MINERALS EMERGING MARKETS JOINT VENTURE
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