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A strategic partnership between “SNB Capital” and “Orion” to support the mining industry and enhance access to essential commodities in the Kingdom
Orion Resource Partners LP (“Orion”), a leading global investment firm specializing in mining and metals, and SNB Capital, Saudi Arabia’s leading capital market institution and a subsidiary of the Saudi National Bank, announced today that they have entered into a strategic partnership to support the development of the Kingdom’s mining and metals industry.
This partnership, the first of its kind in the mining sector in the Kingdom, aligns with Saudi Arabia’s Vision 2030 strategy, which provides a powerful catalyst for national support of the mining sector, energy transition initiatives, and the growing demand for commodities, in particular, critical minerals required to meet expanding industrial and infrastructure needs.
The partnership will aim to leverage Orion’s deep technical, financial, and operational expertise across the global metals and mining value chain, with SNB Capital’s strong local market presence and institutional capabilities. Working together, Orion and SNB Capital will seek to identify and support mining and midstream projects within the Kingdom, with a particular focus on opportunities that have the potential to advance into near-term production. The proposed investment strategy will be in projects that support the development of secure, diversified, and resilient critical minerals supply chains. The financial commitments of both parties are not disclosed.
Abdulrahman Almashal, Chief of Staff, SNB Capital, said: “This partnership represents the continuation of SNB Capital’s efforts to support the Kingdom’s Vision 2030. Saudi Arabia is poised to emerge as a major global participant in the critical minerals sector, with significant untapped resources, strong industrial ambition, and a strategically advantageous geographic position. As a trusted strategic partner and advisor, we believe developing world-class mining and mid-stream capabilities has the potential to create long-term value for the Kingdom’s markets. We are excited to partner with Orion to achieve these aims.”
Tim Keating, Managing Partner, who will lead the partnership for Orion, said: “This represents a compelling opportunity at an important moment for the Kingdom’s mining industry. Demand for critical minerals is accelerating globally, and Saudi Arabia’s Vision 2030 provides a strong strategic framework to support the development of domestic mining and processing capabilities. We are delighted to work alongside SNB Capital to deploy capital thoughtfully and responsibly into high-quality mining and mid-stream assets, contribute FDI to the Kingdom, and support its long-term economic diversification and industrial ambitions.”
Further announcements and details about the partnership will follow in due course.
Related Video:
SNB Capital Named Best in Saudi Arabia for ECM, Research, and Islamic Structured Finance
SNB Capital has received three Euromoney awards, recognizing its leadership across equity capital markets, research, and Islamic structured finance. The institution was named Saudi Arabia's Best Investment Bank for Equity Capital Markets (ECM) and Saudi Arabia's Best for Research at the Euromoney Awards for Excellence 2026, and Saudi Arabia's Best Islamic Structured Finance House at the Euromoney Islamic Finance Awards 2026.
The Euromoney Awards for Excellence and Islamic Finance Awards are among the global finance industry’s most trusted recognitions, honoring institutions for their leadership, innovation, and client impact.
SNB Capital maintains a leading position in Saudi Arabia’s ECM market, holding more than 50% market share[1] at the end of 2025 and advising on the SAR 7.13 billion (USD 1.9 billion) ACWA Power rights issue, the Kingdom’s largest ECM transaction that year.[2]
That same market leadership carried into Islamic structured finance, where SNB Capital acted as joint lead on Saudi Real Estate Refinance Company's SAR 7.5 billion (USD 2 billion) Regulation S Guaranteed Sukuk in February 2025, one of the Kingdom's landmark Shariah-compliant financing transactions.
Underpinning both, SNB Capital launched its enhanced Research Portal, releasing 1,958 reports that delivered key investor insights and supported greater transparency across the Saudi capital market.
Together, these awards highlight SNB Capital’s contribution to Saudi Arabia’s capital markets, reaffirming its position as the institution of choice for issuers and investors seeking best-in-class execution, analysis, and Shariah-compliant solutions in the Saudi market.
Ends
SNB Capital Announces Successful Financial Close of USD 456 Million Landmark ECA Financing
SNB Capital is pleased to announce the successful financial close of a USD 456 million Export Credit Agency (ECA) financing, with Swiss Export Risk Insurance (SERV) providing cover.
SNB Capital acted as Sole Financial Advisor and Global Coordinator on the transaction, structuring and delivering a complex ECA-backed financing solution that establishes a new source of long-term foreign currency funding.
The financing was supported by a group of leading international financial institutions, comprising Santander CIB, Standard Chartered Bank, and UBS. The financing includes ECA support in connection with the export of equipment and services provided by GE Vernova. Proceeds from the financing support a large-scale power generation project in the Kingdom, aligned with Saudi Arabia’s energy transition strategy.
The transaction represents a number of important milestones for the broader Saudi financing landscape, including the first on-lending structure at this scale across the region, demonstrating the scalability and effectiveness of this financing model.
This milestone underscores the continued evolution of the Saudi financing landscape – broadening access to global liquidity pools and reinforcing the Kingdom’s position as a key destination for structured and ECA-supported financing solutions.
Commenting on the transaction, Maher Roz, Head of Corporate Finance at SNB Capital, said: “This transaction represents a significant milestone, establishing access to on-Lending ECA-backed financing as a new and strategic funding channel. It also highlights the growing role of structured financing solutions in enabling long-term, competitive funding for large-scale infrastructure and energy transition projects in the Kingdom.”
The successful execution of this transaction further demonstrates SNB Capital’s ability to originate and deliver complex structured financing solutions, strengthening its position as a trusted financial advisor on landmark transactions across the region.
