Metals & Miners Specialist Orion Resources Unloads 25% Stake in Sweetwater to Ontario Teachers’ Pension

Metals and miners-focused global asset manager Orion Resource Partners has sold a 25% minority stake in base metals and industrial minerals royalty company Sweetwater Royalties to the $247.2 billion Ontario Teachers’ Pension Plan for cash consideration of $221.6 million.

Since New York-based Orion established Sweetwater in 2020, the company has made several expansions and developments. Sweetwater signed a lease and royalty agreement with WE Soda for the development of a greenfield soda ash mine and is currently developing a renewables business through the leasing of lands in exchange for wind and solar royalties.

Orion, which manages $8.2 billion in assets, is also pursuing non-operating partnerships with third-party operating partners regarding battery metal projects.

“Sweetwater’s assets are particularly well positioned, based off quality, location and rarity of trona ore deposits, to benefit from continued growth in demand,” noted Oskar Lewnowski, Founder and Group CEO of Orion.

Sweetwater currently owns 17 cash flowing royalties across soda ash, renewables and industrial minerals and owns 7 royalties on soda ash and renewables projects under development.