Orion Resource Partners

Orion Resource Partners is an alternative investment manager with $2.6 billion under management.* Orion specializes in providing flexible capital investment solutions to mining companies – typically publicly traded – in the base and precious metals sector. Orion has a seasoned team of investment professionals with demonstrated capabilities in structuring debt, equity, convertibles, offtake, streaming, and royalty investments. Orion employs a disciplined, risk-adjusted investment process when evaluating portfolio companies.

Oskar Lewnowski

Founder and Chief Investment Officer

Peter Rozenauers

Managing Partner and Portfolio Manager

Jon Lamb

Managing Partner

58 past transactions

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.

Lithium Americas

Post in 2025
Lithium Americas is engaged in the exploration and evaluation of lithium, potassium, and other mineral resources in South America. The company has rights over approximately 161,000 hectares in five salt lakes in the Jujuy and Salta provinces of Argentina. Its principal property is the Cauchari-Olaroz Lithium Project covering an area of approximately 81,000 hectares in adjacent to Cauchari and Olaroz salt lakes located in Jujuy, Argentina. Lithium Americas was incorporated in 2009 and is headquartered in Toronto, Canada.

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.

VerAI Discoveries

Series B in 2025
VerAI Discoveries is an AI-driven mineral asset portfolio company that leverages artificial intelligence and machine learning to identify concealed mineral deposits. By concentrating on underexplored covered terrain in prime mining jurisdictions, VerAI enhances the likelihood of discovering significant mineral deposits while reducing economic risk. The company collaborates with leading industry investors and explorers to develop a global portfolio focused on base and precious metals, thereby unlocking value and contributing to the global supply of critical minerals. Through its innovative platform, VerAI aims to transform the mineral exploration industry by uncovering unique signatures of existing deposits within complex datasets.

Mangrove Lithium

Venture Round in 2025
Mangrove Lithium, based in Vancouver, has developed a modular and scalable refining technology for the efficient production of battery-grade lithium hydroxide and carbonate from a variety of input streams. This innovative platform allows for the direct conversion of lithium chloride and lithium sulfate into high-quality lithium products. The technology can be adapted to different capacities and is designed to be co-located with upstream lithium producers, as well as cathode and cell manufacturers. Additionally, Mangrove’s platform is being commercialized for the conversion of waste brines into valuable chemicals and desalinated water, contributing to more sustainable practices in the lithium supply chain.

Alta Resource Technologies

Seed Round in 2025
Alta Resource Technologies is on a mission to reinvent mining by harnessing advanced biochemistry to cost-effectively source the critical raw materials needed to power next-generation technology and bolster economic security. Our groundbreaking technology platform leverages customizable proteins to separate high-purity rare earth elements and other essential minerals with unprecedented selectivity while dramatically reducing the environmental impact of mining.

Capstone

Post in 2024
Capstone is a metal mining company, focused on copper. They are committed to the responsible development of their assets and the environments in which they operate. Capstone's strategy is to extend the lives of their current mines with mineral resources and reserve expansions, maintain optionality on the Santo Domingo development project, prudently progress the exploration portfolio, and grow through acquisitions in politically stable, mining-friendly regions.

Thea Energy

Series A in 2024
Thea Energy is focused on developing a scalable fusion energy system designed to provide a limitless, zero-emission power source for a sustainable future. Founded in 2022 as a spin-out from the Princeton Plasma Physics Laboratory and Princeton University, Thea Energy aims to innovate the stellarator, a well-established magnetic fusion technology. The company is utilizing advancements in computation and control systems to create its first integrated fusion system, Eos, which is based on a planar coil stellarator architecture. This design simplifies the traditional complex three-dimensional magnet coils, enabling continuous fusion reactions and offering utility companies a reliable alternative to intermittent renewable energy sources such as solar and wind.

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.

Ceibo

Series B in 2023
Ceibo is an industrial biotechnology company dedicated to providing innovative solutions for the mining industry, particularly in the production of critical minerals essential for the clean energy transition. The company has developed proprietary technology for leaching copper sulfide, which enhances recovery from both primary and secondary sulfide ores rich in chalcopyrite. In addition to its leaching technology, Ceibo has implemented technologies aimed at dust suppression in mining operations. Currently, Ceibo operates within several large mining assets owned by prominent mining companies, focusing on optimizing processes, reducing costs, and promoting environmentally sustainable practices with a commitment to zero waste activity.

Capstone

Post in 2023
Capstone is a metal mining company, focused on copper. They are committed to the responsible development of their assets and the environments in which they operate. Capstone's strategy is to extend the lives of their current mines with mineral resources and reserve expansions, maintain optionality on the Santo Domingo development project, prudently progress the exploration portfolio, and grow through acquisitions in politically stable, mining-friendly regions.

VerAI Discoveries

Series A in 2023
VerAI Discoveries is an AI-driven mineral asset portfolio company that leverages artificial intelligence and machine learning to identify concealed mineral deposits. By concentrating on underexplored covered terrain in prime mining jurisdictions, VerAI enhances the likelihood of discovering significant mineral deposits while reducing economic risk. The company collaborates with leading industry investors and explorers to develop a global portfolio focused on base and precious metals, thereby unlocking value and contributing to the global supply of critical minerals. Through its innovative platform, VerAI aims to transform the mineral exploration industry by uncovering unique signatures of existing deposits within complex datasets.

Nordic Mining

Post in 2023
Nordic Mining is a mining company producer of high-grade lithium hydroxide for the fast-growing.

Nordic Mining

Post in 2023
Nordic Mining is a mining company producer of high-grade lithium hydroxide for the fast-growing.

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.

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.

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 is an AIM-listed mineral project development company with a portfolio of vanadium, tin and coal assets in Southern Africa, including an interest in a vanadium-producing operation. While Bushveld’s focus is on developing low-cost vertically integrated vanadium operations, the Company has multiple projects organised around three commodity-focused platforms through which it will unlock value for its shareholders.

Tacora Resources

Private Equity Round in 2020
Tacora Resources Inc. is engaged in the mining and processing of iron ore mineral reserves, focusing on the development and supply of iron ore concentrate. The company operates in Newfoundland and Labrador, utilizing sustainable methods for mining, transporting, sorting, and delivering iron ore to meet customer demands effectively. Established in 2017 and headquartered in Grand Rapids, Minnesota, Tacora Resources aims to revitalize iron ore assets and facilitate iron distribution across the United States and Canada, supporting the growth of clients in the metal industry.

Orla Mining

Post in 2020
Orla Mining conducts advanced gold and silver open-pit and heap leach project. Orla is developing the Camino Rojo Oxide Gold Project located in Zacatecas State, Central Mexico. The project is 100% owned by Orla and covers over 200,000 hectares. Estimated Mineral Reserves as of June 24, 2019, are 44.0 million tonnes at a gold grade of 0.73 grams per tonne (“g/t”) and a silver grade of 14.2 g/t, for total mineral reserves of 1.03 million ounces of gold and 20.1 million ounces of silver. The company is headquartered in Vancouver, British Columbia.

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 hydroxide and lithium carbonate, which are essential for the rapidly growing lithium battery market, particularly for electric vehicles. The company wholly owns the Whabouchi property, a significant spodumene deposit located in the Eeyou Istchee/James Bay area of Quebec, covering 1,632.24 hectares. This deposit is noted for its high volume and grade, with an anticipated mine life of 26 years. Nemaska Lithium is developing a processing plant in Shawinigan, Quebec, which will convert spodumene concentrate from its mine and other sources into high-purity lithium products. The company has also secured a patent for its proprietary process for lithium production and is pursuing further patent protections globally. Established in 2007 and headquartered in Quebec City, Nemaska Lithium aims to play a crucial role in supplying the lithium battery industry, which supports a variety of applications, including electric vehicles and consumer electronics.

Horizonte Minerals

Post in 2019
Horizonte Minerals is a nickel development company based in the United Kingdom, primarily focused on projects in Brazil. It wholly owns the Araguaia nickel laterite project, situated south of the Carajas mineral district, and is also engaged in the Vermelho nickel-cobalt project located in the Carajas region. The company aims to develop Araguaia as its flagship nickel mine, contributing to the production of nickel, which is essential for manufacturing stainless steel and electric vehicles. Through its strategic initiatives, Horizonte Minerals is positioned to play a significant role in the growing demand for nickel in various industrial applications.

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.

Premier Gold Mines

Post in 2019
Premier Gold Mines is a mineral exploration company focused on developing gold projects worldwide. They advancing a portfolio of eight projects including two operating mines, two development stage projects and four exploration properties. The company remains focused on creating a low cost, mid-tier gold producer through its two producing gold mines, South Arturo and Mercedes, and through future mine development opportunities at Hardrock in Ontario (Greenstone Gold JV) and at the McCoy-Cove Project in Nevada. Premier Gold Mines was founded in 2006 and is headquartered in Thunder Bay, Ontario, Canada.

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 firm that focuses on acquiring and advancing copper projects in the Copper Range District of Michigan's Upper Peninsula. The company owns the Copperwood copper project and the White Pine copper project, both of which are significant in the region known for its rich copper and silver deposits. Historically, the district produced over 15 billion pounds of copper from 1845 to 1995. Highland Copper has also acquired a substantial land package known as the UPX Properties, spanning approximately 448,000 acres, which enhances its exploration potential. Additionally, the company holds an option to acquire a 65% interest in the Keweenaw Project. By leveraging these assets, Highland Copper aims to establish itself as a key player in the copper mining sector in Michigan, with opportunities for future project development.

Premier Gold Mines

Post in 2016
Premier Gold Mines is a mineral exploration company focused on developing gold projects worldwide. They advancing a portfolio of eight projects including two operating mines, two development stage projects and four exploration properties. The company remains focused on creating a low cost, mid-tier gold producer through its two producing gold mines, South Arturo and Mercedes, and through future mine development opportunities at Hardrock in Ontario (Greenstone Gold JV) and at the McCoy-Cove Project in Nevada. Premier Gold Mines was founded in 2006 and is headquartered in Thunder Bay, Ontario, Canada.

Lydian International

Post in 2015
Lydian International is a gold-focused mineral development corporation that specializes in exploring and developing precious metals assets, primarily in Armenia and Georgia. The company's flagship project is the Amulsar Gold Project, which is set to become Armenia's largest gold mine. The project boasts total estimated mineral resources of 5 million ounces, with a targeted annual production of 200,000 ounces. The Mining Right for Amulsar was approved in late 2014, enabling Lydian to advance its development plans. The Amulsar project is designed as a large-scale, low-cost operation that employs open pit mining and conventional heap leach processing techniques.

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.

Red Eagle Mining

Post in 2015
Red Eagle Mining focuses on building shareholder value by discovering and developing gold projects. Red Eagle Mining is developing the 100 square kilometers historic Santa Rosa Gold Project located in the Antioquia Batholith. It was founded in 2010 and headquartered in Vancouver, British Columbia.

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.

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.

Atalaya Mining

Post in 2014
Atalaya Mining Focused on Growth Through Expansion and Exploration Atalaya Mining is a new European copper producer with Proyecto Riotinto as its main asset. The Company operates an open-pit mine with certified ore reserves totalling 153 million tonnes of ore containing 680,000 t of Copper and fully operational large scale processing facilities and infrastructure. Following 18 months of refurbishment, commissioning and ramp-up, commercial production was declared in February 2016 and the processing plant is now operating at design capacity. The Expansion Project is under way which will increase processing capacity to 9.5Mtpa by the end of 2016.

Stornoway Diamond

Post in 2014
Stornoway Diamond Corporation is a Canadian company engaged in the mining, acquisition, and exploration of diamond properties. Founded in 1986 and headquartered in Longueuil, Canada, its principal asset is the fully-owned Renard Mine, located in north-central Quebec, which is on track to become the province's first diamond mine. The company is focused on growth through the development of its flagship asset as well as a portfolio of exploration projects across Canada, including properties such as Adamantin, Qilalugaq, and Pikoo. Stornoway aims to enhance its position in the diamond industry by leveraging its exploration and development capabilities in one of the world's most favorable mining jurisdictions.

Claude Resources

Private Equity Round in 2014
Claude Resources Inc. is a fully integrated Canadian gold exploration and mining Company that has the proven ability to "Discover.

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. (TSX: GGD) is a Canadian-based, mineral resource company with active development and exploration properties in Mexico. The company’s development property, The Parral Tailings Project, is in Chihuahua State, Mexico and is currently fully funded and permitted and in construction of a heap leach facility that will process the tailings.

Lithium Americas

Post in 2013
Lithium Americas is engaged in the exploration and evaluation of lithium, potassium, and other mineral resources in South America. The company has rights over approximately 161,000 hectares in five salt lakes in the Jujuy and Salta provinces of Argentina. Its principal property is the Cauchari-Olaroz Lithium Project covering an area of approximately 81,000 hectares in adjacent to Cauchari and Olaroz salt lakes located in Jujuy, Argentina. Lithium Americas was incorporated in 2009 and is headquartered in Toronto, Canada.

Aurcana

Post in 2013
Aurcana Corporation is a Canadian mining company engaged in the exploration, development, and operation of natural resource properties primarily in the United States and Mexico. The company's key assets include the La Negra mine in Queretaro State, Mexico, which produces silver-lead, zinc, and copper concentrates, with silver accounting for approximately 45% of its revenue. Additionally, Aurcana owns the Shafter Project, a pure-silver deposit located in Presidio County, Texas. Established in 1917 and headquartered in Vancouver, Canada, Aurcana has undergone significant changes, including a reverse merger with Ouray Silver Mines Inc. in 2018. The company is led by an experienced management team focused on sustainable growth and value creation for its shareholders and stakeholders.

Karora Resources

Post in 2013
Karora Resources Inc. is a mining company focused on the exploration and production of gold and nickel resources in Australia and Canada. The company operates the Beta Hunt Gold Mine and the Higginsville Gold Operations in Western Australia, alongside the Spargos Reward Gold Project, which spans 33 square kilometers in the Eastern Goldfields region. Additionally, Karora holds a 28% interest in a nickel joint venture that encompasses the Dumont Nickel-Cobalt Project located in Quebec, Canada. Established in 2006 and headquartered in Toronto, Karora Resources aims to create value through its diverse mineral assets and ongoing development initiatives.

Dart Mining Nl

Private Equity Round in 2013
Dart Mining NL is a mineral exploration company based in Corryong, Australia, that focuses on discovering precious, base, and minor metals in Northeast Victoria. Established in 2006, the company primarily investigates deposits of lithium, gold, silver, copper, molybdenum, zinc, tungsten, tin, and tantalum. Its flagship project is the Buckland Gold project, which underscores its commitment to exploring orogenic gold and porphyry base metals, along with critical minerals. Dart Mining is dedicated to advancing its exploration activities in a region known for its diverse mineral potential.
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