Orion & US in talks to set up $1.2 Billion fund for overseas mining projects

US' International Development Finance Corporation & Orion Resource Partners would each invest $600mn or more in the new fund — potentially alongside other SWF & US agencies—, as Washington seeks to counter Chinese dominance of critical minerals.

Of the US' $600 Billion contribution, $100MM would be for equity stakes in mining projects & $500MM for debt.

The DFC has already made a range of mining investments, including

Anglo-Teck

"Merger of Equals" puts Anglo in charge with 62% of the new company, after the Keevils won enough concessions to sell the transaction at home…

Anglo-Teck merger creates a 1.2MM Tons Copper producer, combining Collahuasi and Quebrada Blanca 2 mines in Chile for significant cost savings. However, other companies like Glencore, BHP, or Rio might make a better offer for either Anglo or Teck before the deal closes.

The new 1.2MM Tons Copper producer's main benefit is

$3500 Gold!

It’s been a long slog, but here we are! 

Gold made a clear break through $3500 this week hitting new highs— over $3600/oz. on the futures—, as lower rates, persistent inflation, tariffs uncertainty and geopolitical tensions linger in the air. 

We will see if we close this week above $3500. A correction could be in order in the short term—it’s up 5% in a week—, as it catches its breath before it takes on $4000!  😉

____________________________________________________

MasterMetals

@MasterMetals