US, Orion Form Critical Minerals Fund Targeting $5 Billion

The US government has established a new critical minerals fund in partnership with Orion Resource Partners and Abu Dhabi's ADQ. This $5 billion fund aims to invest in the production and processing of essential minerals, reducing the country's reliance on foreign, particularly Chinese, sources. The move is part of the Trump administration's efforts to strengthen US control over critical supply chains, which have been dominated by China. The fund will focus on minerals that are crucial for the production of various high-tech products, including rare earth elements, lithium, and cobalt. By diversifying its mineral sources, the US seeks to enhance its economic and strategic position, reducing its vulnerability to potential supply disruptions. The partnership with Orion Resource Partners and ADQ is expected to leverage their expertise in the mining and resource sectors to identify and develop promising projects. This initiative underscores the growing global competition for the control of critical minerals, which are vital for the production of a wide range of products, from smartphones to electric vehicles.