Orion Resource Partners

Orion Resource Partners, established in 2004 and headquartered in New York, is an asset management firm specializing in the mining and natural resource sectors. With $2.6 billion under management, Orion offers flexible capital solutions, including debt, equity, and production-linked financing, to both public and private mining companies. The firm's experienced team structures investments such as debt, equity, convertibles, offtake, streaming, and royalty agreements, employing a disciplined, risk-adjusted investment process. Orion operates globally, providing tailored financing solutions to base and precious metals companies.

Michael Barton

Managing Partner and Management Committee Member

Mark Frayman

Managing Partner, Orion Industrial Ventures

Peter Rozenauers

Operating Partner

Istvan Zollei

Managing Partner and Management Committee Member

Jonathan Lamb

Managing Partner

Past deals in Metals and Mining

New Wave

Private Equity Round in 2025
New Wave is a global technology holding company dedicated to develop innovative solutions and technologies for the mining and steel sector.

Euro Manganese

Post in 2025
Euro Manganese Inc. is a Canadian mineral resource company dedicated to the evaluation, exploration, and development of mineral assets in the Czech Republic. The company’s principal asset is the Chvaletice manganese project, located east of Prague. This project involves the re-processing of a leachable manganese deposit aimed at producing high-purity electrolytic manganese metal, high-purity manganese sulphate monohydrate, and other high-purity manganese products. Incorporated in 2014, Euro Manganese is headquartered in Vancouver, Canada, and is focused on advancing the development of its key project to meet the growing demand for manganese in various industries.

Capstone

Post in 2024
Capstone Mining Corp. is a Canadian base metals mining company that specializes in copper mining. They operate three mines in the US, Mexico, and Canada, with two development projects in Chile and British Columbia. Capstone focuses on responsible development of their assets while aiming to extend the lives of their current mines through expansions. They prioritize maintaining financial flexibility to meet operational needs and manage risks in the mining industry. With headquarters in Vancouver, Canada, Capstone is listed on the Toronto Stock Exchange.

Euro Manganese

Post in 2023
Euro Manganese Inc. is a Canadian mineral resource company dedicated to the evaluation, exploration, and development of mineral assets in the Czech Republic. The company’s principal asset is the Chvaletice manganese project, located east of Prague. This project involves the re-processing of a leachable manganese deposit aimed at producing high-purity electrolytic manganese metal, high-purity manganese sulphate monohydrate, and other high-purity manganese products. Incorporated in 2014, Euro Manganese is headquartered in Vancouver, Canada, and is focused on advancing the development of its key project to meet the growing demand for manganese in various industries.

Capstone

Post in 2023
Capstone Mining Corp. is a Canadian base metals mining company that specializes in copper mining. They operate three mines in the US, Mexico, and Canada, with two development projects in Chile and British Columbia. Capstone focuses on responsible development of their assets while aiming to extend the lives of their current mines through expansions. They prioritize maintaining financial flexibility to meet operational needs and manage risks in the mining industry. With headquarters in Vancouver, Canada, Capstone is listed on the Toronto Stock Exchange.

Sabina Gold & Silver

Post in 2022
Sabina Gold & Silver Corp. is a mining company based in Vancouver, Canada, focused on the exploration and development of precious metal resources, primarily gold. The company's main assets include the Back River gold project, which encompasses several properties such as Goose, George, Boulder, and Boot, along with a port facility at Bathurst Inlet in southwestern Nunavut. Additionally, Sabina holds a silver royalty on the Hackett River project, which spans over 10,600 hectares in Nunavut. Established in 1966, the company aims to become a significant gold producer through the phased development of its projects in politically stable mining regions.

BMC Minerals

Private Equity Round in 2021
BMC Minerals is a London-based company focused on the assessment, acquisition, and development of base metals projects, specifically zinc and copper. The company aims to build a diverse portfolio of mining-ready assets that deliver long-life projects characterized by low operating costs and strong revenue potential. Through its strategic initiatives, BMC Minerals is committed to enhancing its clients' access to valuable mining resources and fostering the growth of sustainable base metals operations.

Adriatic Metals

Post in 2021
Adriatic Metals PLC, through its subsidiary Eastern Mining d.o.o Sarajevo, is focused on mineral exploration in Bosnia and Herzegovina and Serbia. The company is engaged in the exploration and development of precious and base metals, primarily targeting deposits of zinc, lead, barite, barium sulfate, silver, gold, and copper. Adriatic Metals holds a 100% interest in the Vareš Project in Bosnia and Herzegovina and also owns the Raska zinc deposit in Serbia, which is known for its high-grade mineralization. The company’s projects include the historic Veovaca mine, which was previously an open-cut operation for zinc, lead, barite, and silver. Established in 2017 and headquartered in Cheltenham, the United Kingdom, Adriatic Metals operates in regions recognized for their strong mining history, supportive regulatory environment, skilled labor force, and robust infrastructure.

Serra Verde

Private Equity Round in 2021
Serra Verde operates integrated rare earth mining and processing operations.

Jetti Resources

Series C in 2021
Jetti Resources is a company based in Vancouver, Canada, that specializes in developing hydrometallurgical technology for the extraction of metals from mineral ores. Founded in 2014, Jetti focuses primarily on extracting copper from low-grade primary sulfides, including chalcopyrite, which is the most abundant copper mineral ore. The company has developed a proprietary catalytic technology that enhances copper recovery from vast quantities of ore, addressing significant challenges in mineral processing. This technology integrates with existing heap leaching methods and downstream operations, allowing industrial clients to improve copper yields in a cost-effective and environmentally sustainable manner. Additionally, Jetti's technology is applicable for the extraction of zinc and nickel from sulfide ores, further diversifying its capabilities in mineral processing.

Ivanhoe Electric

Private Equity Round in 2021
Ivanhoe Electric, established in 2010 and headquartered in Vancouver, Canada, is an exploration and development company focused on discovering and developing new base metal resources, particularly those crucial for electrification. The company operates in the United States, with a strategic focus on mineral project exploration and development, aiming to identify and develop mineral projects that could ultimately lead to the establishment of mines.

Uniformity Labs

Series B in 2021
Uniformity Labs, Inc. is a manufacturer based in Fremont, California, specializing in engineered metal powders and additives for three-dimensional printing. Founded in 2014 as a spin-out from Princeton University, the company focuses on research and development in additive manufacturing. Its proprietary materials are designed to enhance the value chain by optimizing particle distribution and phase separation, which increases contact points among particles. This innovation aids clients in accelerating the adoption of industrial additive manufacturing and significantly improving operational efficiency.

Greenstone Gold Mines

Private Equity Round in 2021
Greenstone Gold Mines is focused on the development and operation of an open-pit gold mining project. The company designs and constructs the mine, along with a processing plant and related facilities. By advancing this project, Greenstone aims to contribute to the mining industry while creating employment opportunities for local communities.

Aris Gold Corporation

Private Equity Round in 2020
Aris Gold is a Canadian mining company listed on the TSX under the symbol “ARIS”.

Bushveld Minerals

Post in 2020
Bushveld Minerals Limited is an investment holding company focused on the exploration and development of vanadium and other mineral projects in Southern Africa. The company operates primarily through four segments: vanadium and iron ore exploration, coal exploration, vanadium mining and production, and energy. It holds significant interests in several key projects, including Vametco, Brits, Vanchem, and Mokopane, all located in the Northern Limb of the Bushveld Complex in Limpopo, South Africa. Additionally, Bushveld has stakes in the Imaloto coal project in Madagascar and a 60-megawatt power plant, which supports its energy development initiatives. The company aims to establish low-cost, vertically integrated vanadium operations by leveraging its capabilities across the entire value chain, from mining to energy generation. Founded in 2012 and headquartered in Johannesburg, Bushveld Minerals is committed to unlocking value for its shareholders through its diverse portfolio of mineral assets.

Orla Mining

Post in 2020
Orla Mining Ltd. is a mineral exploration and development company based in Vancouver, Canada, focused on acquiring, exploring, and developing mineral properties. The company primarily targets gold, silver, zinc, lead, and copper deposits. Orla owns 100% of the Camino Rojo project, which spans approximately 160,000 hectares in Zacatecas, Mexico, and the Cerro Quema gold project located in Panama. Additionally, Orla holds an option to acquire the Monitor Gold project in Nye County, Nevada. The Camino Rojo project is notable for its advanced open-pit and heap leach operations, with significant estimated mineral reserves. Since its incorporation in 2007, Orla has established itself as a key player in the mineral exploration sector, with operations across Mexico, Panama, and the United States.

Tacora Resources

Private Equity Round in 2020
Tacora Resources Inc. is an iron ore mining and development company specializing in the extraction and processing of iron ore mineral reserves. Incorporated in 2017 and headquartered in Grand Rapids, Minnesota, Tacora focuses on acquiring and revitalizing iron ore assets primarily in Newfoundland and Labrador. The company supplies iron ore concentrate and is committed to sustainable operational practices throughout the mining process, including material transport and product sorting. Tacora aims to facilitate iron distribution across the United States and Canada, supporting the growth of clients in the metal industry.

Nomad Royalty Company

Post in 2020
Nomad Royalty Company Ltd. is a gold and silver royalty company based in Montreal, Canada. The company acquires rights to a percentage of the gold or silver produced from various mining operations, typically securing these rights for the life of the mine. Nomad's portfolio consists of ten royalty, stream, and gold loan assets, which include properties such as Woodlawn, Blyvoor, Gualcamayo, and Suruca. Its operations span multiple geographical regions, including North America, South America, Africa, and Australia. By generating revenue through gold and silver streams, royalties, and gold prepay loans, Nomad positions itself as a key player in the mining sector, focusing on the acquisition of valuable production rights.

Nemaska Lithium

Post in 2020
Nemaska Lithium Inc. is a Canadian chemical company focused on the production of lithium compounds essential for the burgeoning lithium battery market, particularly for electric vehicles. The company is developing the Whabouchi property, which consists of 35 claims over 1,632.24 hectares in the Eeyou Istchee/James Bay region of Quebec. Nemaska Lithium aims to produce high-purity lithium hydroxide and lithium carbonate by processing spodumene, a mineral abundant in lithium, sourced from its own mining operations and potentially from other global suppliers. The company has received a notice of allowance for a key patent application related to its proprietary processing method, which it is also pursuing in multiple jurisdictions. With a projected mine life of 26 years, the Whabouchi deposit is among the richest hard rock lithium sources in the world, positioning Nemaska Lithium to meet the increasing demand for lithium in various applications, including electric vehicles and consumer electronics. The company was founded in 2007 and is headquartered in Quebec City, Canada.

Horizonte Minerals

Post in 2019
Horizonte Minerals is a United Kingdom-based nickel development company focused on mineral projects in Brazil. The company wholly owns the Araguaia nickel laterite project, situated to the south of the Carajas mineral district in northern Brazil, which it is developing as the next significant nickel mine in the region. Additionally, Horizonte holds the Vermelho nickel-cobalt project located in the Carajas area. The nickel produced by the company is primarily utilized in stainless steel manufacturing and electric vehicle production, highlighting its role in the evolving energy landscape.

Victoria Gold

Acquisition in 2019
Victoria Gold Corp. is a mining company focused on the acquisition, exploration, and development of mineral properties, primarily targeting gold deposits. Its flagship asset is the Dublin Gulch property in central Yukon, Canada, which encompasses the Eagle and Olive-Shamrock gold deposits over an area of approximately 555 square kilometers. The Eagle Gold Mine Project, located about 375 kilometers north of Whitehorse, is an open-pit, heap leach operation that exemplifies the company's commitment to gold mining. Founded in 1981 and headquartered in Toronto, Canada, Victoria Gold Corp. was formerly known as Victoria Resource Corporation before rebranding in 2008.

Aquila Resources

Post in 2019
Aquila Resources Inc. is engaged in the acquisition, exploration, and development of mineral properties primarily in the United States and Canada. The company focuses on exploring deposits of zinc, gold, copper, lead, silver, and nickel. Its flagship asset, the Back Forty Project, is a volcanogenic massive sulfide deposit located in Menominee County, Michigan, which contains a substantial resource of approximately 1 million ounces of gold and 1 billion pounds of zinc. In addition to the Back Forty Project, Aquila holds 100% interest in the Reef gold project in Marathon County, Wisconsin, and the Bend Project, also a volcanogenic massive sulfide property, located in Taylor County, Wisconsin. The company is headquartered in Toronto, Canada, and its management team is focused on advancing permitting activities for its key projects.

Sydvaranger

Debt Financing in 2018
Sydvaranger is engaged in the iron ore mining industry, operating a project located in Kirkenes, Norway. The company specializes in mine engineering and operational readiness, ensuring efficient extraction and processing of iron ore. In addition to iron, Sydvaranger provides a range of other products including silica, alumina, sulfur, phosphorous, manganese, and various chemicals, thereby meeting diverse customer needs for quality materials.

Heron Resources

Post in 2017
Heron Resources Limited is an Australian company focused on the exploration and development of mineral deposits, primarily targeting base and precious metals. The company’s flagship project is the Woodlawn zinc-copper project, located southwest of Sydney in New South Wales. In addition to Woodlawn, Heron Resources also has interests in the Kalgoorlie nickel project in Western Australia and various exploration properties within the Lachlan Fold Belt of New South Wales. The company's portfolio includes projects for zinc, copper, lead, nickel, cobalt, and gold, as well as additional projects such as Yellow Mountain, Girilambone, and Barraba-Manilla. Established in 1995, Heron Resources is headquartered in Sydney, Australia.

Equinox Gold

Post in 2017
Equinox Gold is a multi-asset mining company focused on the operation, acquisition, exploration, and development of mineral properties, primarily targeting gold. The company has approximately seven operating gold mines and is actively working to increase production through a robust pipeline of growth projects. Key assets include the Aurizona Gold Mine in Brazil, which commenced production in late 2018, and the Castle Mountain project in California, where there is significant potential for increased output. Equinox Gold is committed to advancing its portfolio of gold and copper assets across the Americas, positioning itself as a prominent player in the mining industry.

Highland Copper Company

Post in 2017
Highland Copper Company Inc. is a Canadian mineral exploration and development company focused on advancing copper projects in the Upper Peninsula of Michigan, United States. The company primarily targets sediment-hosted copper deposits and holds several key assets, including the 100%-owned and permitted Copperwood project, the White Pine North project, and the UPX Properties, which encompass approximately 448,000 acres of mineral-rich land. Highland also has the option to acquire a 65% interest in the Keweenaw Project. The Copper Range District, known for its historical production of over 15 billion pounds of copper, provides a strategic location for Highland's operations. With a strong geological foundation, Highland Copper Company aims to develop a pipeline of projects that leverage the area's mineral potential. The company was previously known as Highland Resources Inc. before its renaming in October 2012 and is headquartered in Longueuil, Canada.

Alufer Mining

Private Equity Round in 2016
Alufer Mining Limited is an exploration and development company focused on bauxite mining in Guinea. Founded in 2010 and based in Saint Peter Port, Guernsey, it operates several bauxite projects, including Bel Air, Labe, and Kindia, and holds reconnaissance permits for an iron ore project in Faranah. Alufer Mining is committed to sustainable operations and manages its logistics through a dedicated haul road and an export facility, which enables it to supply high-quality tri-hydrate bauxite with low reactive silica to refineries. The company's activities aim to generate wealth for shareholders while contributing to the economic prosperity of Guinea.

Lynx Resources

Debt Financing in 2015
Lynx Resources Ltd is a holding company focused on the acquisition and operation of mining assets. It owns and operates the SASA mine, which is a significant producer of zinc, lead, and silver located in Europe. The mine has an annual production capacity of approximately 30,000 tonnes of lead, 22,000 tonnes of zinc, and 400,000 ounces of silver in concentrates. Through its operations, Lynx Resources aims to leverage its resources in the mining sector to achieve sustainable growth and profitability.

Blackham Resources Limited

Post in 2015
The Matilda Gold Project incorporates over 780 square kilometres of tenements including Regent and the Matilda and Williamson Gold Mines containing total JORC resources of 4.3 million ounces of gold. These tenements cover around 45 kilometres of strike along the Wiluna Mine Sequence and 10 kilometres of strike along the Coles Find Sequence. The Wiluna Mine & Coles Find Sequence has historically produced 4 million ounces of gold. All the deposits are within 26 kilometres by existing haul roads of Blackhams recently acquired Gold Plant. With exploration prospects at Mt Poole, Monarch, Carroll Prior, Red Lady, Zenith, Island and Albion in the Lakeway area provides the company with excellent exploration areas for potential future projects. Blackham is currently evaluating the resource extensions of each deposit and reserves to expand the current mining inventory of gold to enable the company to move to the next stage of development.

Aquila Resources

Post in 2015
Aquila Resources Inc. is engaged in the acquisition, exploration, and development of mineral properties primarily in the United States and Canada. The company focuses on exploring deposits of zinc, gold, copper, lead, silver, and nickel. Its flagship asset, the Back Forty Project, is a volcanogenic massive sulfide deposit located in Menominee County, Michigan, which contains a substantial resource of approximately 1 million ounces of gold and 1 billion pounds of zinc. In addition to the Back Forty Project, Aquila holds 100% interest in the Reef gold project in Marathon County, Wisconsin, and the Bend Project, also a volcanogenic massive sulfide property, located in Taylor County, Wisconsin. The company is headquartered in Toronto, Canada, and its management team is focused on advancing permitting activities for its key projects.

Goldrock Mines

Post in 2015
Goldrock Mines Corp. is a mining company focused on the exploration and development of gold properties in Argentina, specifically targeting its wholly owned Lindero gold project located in Salta Province. Founded in 1975 and headquartered in Vancouver, Canada, the company was previously known as Mansfield Minerals Inc. and rebranded in January 2013. Goldrock Mines is dedicated to advancing the Lindero project, which is a significant asset in its portfolio. As of July 2016, the company operates as a subsidiary of Fortuna Silver Mines Inc.

Aldridge Minerals

Post in 2014
Aldridge Minerals Inc. is a development stage mining company based in Toronto, Canada, primarily engaged in the exploration and development of mineral properties in Turkey. The company's flagship asset is the Yenipazar Project, a polymetallic deposit containing gold, silver, copper, lead, and zinc, spanning an area of 100 square kilometers located east-southeast of Ankara. Founded in 1994, Aldridge Minerals focuses on advancing the Yenipazar Project, aligning with Turkey's commitment to harnessing its natural resources and contributing to its economic growth. The company operates as a subsidiary of Virtus Mining Ltd.

Atalaya Mining

Post in 2014
Atalaya Mining is a European copper producer primarily focused on the Proyecto Riotinto, an open-pit mine with certified ore reserves of 153 million tonnes, containing 680,000 tonnes of copper. The company has fully operational large-scale processing facilities and infrastructure. After an 18-month period dedicated to refurbishment and commissioning, Atalaya Mining declared commercial production in February 2016, and the processing plant is now functioning at its design capacity. An ongoing expansion project aims to increase the processing capacity to 9.5 million tonnes per annum, enhancing the company's growth potential in the copper market.

Horizon Minerals

Post in 2014
Horizon Minerals Limited is an emerging mid-tier gold producer with high-quality projects located in the heart of the West Australian goldfields. The Company hosts 1.12Moz of gold in Resources and has significant open cut and underground growth potential.

Stornoway Diamond

Post in 2014
Stornoway Diamond Corporation is a prominent Canadian company focused on the mining, acquisition, and exploration of diamond properties. Established in 1986 and headquartered in Longueuil, Quebec, Stornoway's primary asset is the fully-owned Renard Mine, which is currently under construction and is set to become Quebec's first diamond mine. In addition to the Renard project, the company holds a portfolio of exploration assets across Canada, including properties and joint ventures such as Adamantin, Qilalugaq, and Pikoo. Stornoway aims to enhance its business through the continued exploration and development of its diamond mining operations.

Nevada Copper

Post in 2013
Nevada Copper is a mining company focused on the identification, acquisition, exploration, and development of mineral properties, primarily in Nevada. The company specializes in copper, gold, silver, and iron ores, with its main asset being the Pumpkin Hollow property, located near Yerington, Nevada. This property features an underground mine designed to support a milling capacity of 5,000 tons per day. Established in 1999 and based in Reno, Nevada, the company was previously known as Astron Resources Corporation before rebranding in 2006.

Weatherly International

Post in 2013
Weatherly International operates copper mining projects in southern Africa, focusing on partnerships with junior explorers who require development expertise. The company aims to enhance the copper mining environment by leveraging its team's experience in mine building and operations. By working with junior explorers, Weatherly International helps manage the risks associated with mining projects, particularly in lower-risk areas where medium-scale discoveries are more common. This strategic approach positions the company as a valuable partner in the copper mining sector, facilitating the successful development of various mining projects while fostering growth in the industry.

GoGold Resources

Post in 2013
GoGold Resources Inc. is a Canadian mineral resource company focused on the exploration, development, and production of gold and silver, primarily in Mexico. The company owns the Parral Tailings project in Chihuahua, which is currently under construction for a heap leach facility to process tailings. Additionally, GoGold has an option to acquire 100% of the Los Ricos project, encompassing approximately 22,000 hectares in Jalisco State. With its primary operations in Mexico, the company is headquartered in Halifax, Canada.

Aurcana Silver

Post in 2013
Aurcana Silver Corporation, based in Vancouver, Canada, is a mining company primarily focused on the exploration, development, and operation of silver properties. It owns the Revenue-Virginius Mine in Colorado and the Shafter-Presidio silver property in Texas, both in the United States. Aurcana also operates the La Negra mine in Mexico, producing silver, lead, zinc, and copper concentrates. The company's management team, with a proven track record, aims to deliver sustainable growth and maximum value for shareholders.

Karora Resources

Post in 2013
Karora Resources Inc. is a mining company focused on the exploration and production of gold resources in Australia, with a strong portfolio of assets primarily located in Western Australia. The company's key operations include the Beta Hunt Gold Mine and the Higginsville Gold Operations, both of which contribute significantly to its gold production. Additionally, Karora holds an interest in the Spargos Reward Gold Project. Beyond its gold operations, the company has a 28% stake in a nickel joint venture that includes the Dumont Nickel-Cobalt Project in Quebec, Canada. Established in 2006 and headquartered in Toronto, Karora Resources was formerly known as Royal Nickel Corporation before rebranding in June 2020.

Dart Mining Nl

Private Equity Round in 2013
Dart Mining NL is a mineral exploration company based in Corryong, Australia, founded in 2006. The company focuses on the exploration of precious metals, base metals, and minor metals in Northeast Victoria. Its primary commodities of interest include lithium, gold, silver, copper, molybdenum, zinc, tungsten, tin, and tantalum. Dart Mining's flagship project is the Buckland Gold project, which underscores its commitment to exploring orogenic gold and porphyry base metals, alongside critical minerals such as lithium and tantalum.
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