Orion confirms talks with Trump administration on mining partnership

Orion Resource Partners is continuing its discussions with the Trump administration about potential partnerships to invest in mining, the founder of the New York-based investment firm said.

“Conversations are progressing and we are marching forward,” Orion chief executive officer Oskar Lewnowski said Tuesday during an event at Bloomberg’s New York headquarters.

Bloomberg reported last month that the US International Development Finance Corp. is in talks to establish a $5 billion fund as a joint venture with Orion to invest in mining, The proposed partnership highlights Washington’s push to counter China’s grip on key metals such as copper, cobalt and rare earth elements.

The US department was created late in US President Donald Trump’s first term to finance strategic overseas investments.

Orion is also interested in agreements with governments on a “case-by-case” basis, said Lewnowski, whose firm is one of the mining industry’s biggest financiers.

“Everyone wins in that scenario,” he said. “The government and industries domestically get the raw market that they need, and emerging markets get jobs and tax revenue.”

(By Veena Ali-Khan)