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3d ago

U.S. Moves Forward on $5 Billion DFC–Orion Minerals Fund

The prospective vehicle seeks to finance overseas copper, cobalt and rare earths projects to lessen U.S. dependence on Chinese processing.

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Overview

  • Reports say the DFC and Orion Resource Partners are each expected to commit about $600 million toward a fund targeting roughly $5 billion for critical minerals projects.
  • The U.S. contribution is described as $600 million split into $100 million in equity and $500 million in debt to align with the DFC’s overseas-only scope and equity limits.
  • Talks that began last year were delayed after questions from Commerce Secretary Howard Lutnick, with sources indicating those concerns have largely been addressed.
  • Additional sovereign and U.S. agency co-investors may join, and if approved the deal would be the DFC’s largest mining-related commitment to date.
  • The initiative complements broader steps that include Pentagon cobalt stockpiling and an EXIM letter of interest for up to $67 million for Sunrise Energy Metals’ scandium project in Australia.