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Orion raises money to fund potash mines

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World Fertilizer,


According to Reuters, Orion Resource Partners is seeking to raise up to US$500 million in order to fund potash, tungsten and iron ore mines.

Reuters reports that miners are looking towards alternative sources of finance as the industry is finding it difficult to attract traditional financiers back, despite the fact that commodity prices are rebounding from the crash in 2015 – 2016.

According to Reuters, Orion will provide royalties and streams and close the fund within the next few months. Streaming and royalties are alternative finance methods for the mining sector. Generally speaking, they involve a payment up front to a miner, which then repays it by supplying metal at a later point.

Orion’s investors (mostly pension funds, sovereign wealth funds and other long-term funders) had reportedly shown in interest in having exposure to mining for long-term projects that would pay steady dividends over a period of time.

Read the article online at: https://www.worldfertilizer.com/potash/10072018/orion-raises-money-to-fund-potash-mines/

 

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