Orion Critical Mineral Consortium (Orion CMC), backed by the US and Abu Dhabi, is evaluating the acquisition of a stake in mining operator Eramet, which is partly owned by the French Government, reported the Financial Times.
The move comes amid intensifying competition for minerals vital to the energy transition
Orion CMC is reportedly planning to purchase the 37% stake in the company held by the Duval family, according to sources familiar with the development. Established in October last year with $1.8bn (Dh6.61bn) to invest in overseas mining projects, Orion CMC is a collaboration involving Orion Resource Partners, the US International Development Finance Corporation and Abu Dhabi’s sovereign wealth fund ADQ. The consortium aims to bolster mineral supply chains amid Western nations’ efforts to reduce reliance on China for essential metals such as lithium and rare earth elements.
The French Government holds a 27% stake in Eramet, making it the company’s second-largest shareholder. A possible partnership with Orion CMC could align with broader strategies to strengthen supply networks among allied countries. With a market capitalisation of €1.4bn ($1.6bn), Eramet operates mining ventures in countries such as Indonesia, Gabon, Argentina and the US, focusing on materials including nickel, lithium, manganese and mineral sands.