Orion launches consortium to boost critical mineral supply chains

Oct 23 (Reuters) - Investment firm Orion Resource Partners LP said on Thursday it had launched the Orion critical mineral consortium, aimed at strengthening secure and sustainable supply chains for critical minerals in the United States.

The U.S. International Development Finance Corp made an initial capital commitment, matched by both funds managed by Orion and ADQ, to take the size of the consortium to $1.8 billion, the company said in a statement.

The consortium will prioritise investments in existing or near-term producing assets rather than frontier exploration projects that could take a decade to turn into a mine, it said.

In July, MP Materials MP.N entered into a public-private partnership with the U.S. defense department to build out a domestic rare earth magnet supply chain and reduce foreign dependency.

Critical mineral companies are boosting lobbying efforts in Washington, hoping to share in the ambitious investments that President Donald Trump has pledged to firms deemed essential to national security.