LITTLETON, Colo.--(BUSINESS WIRE)--Sweetwater Royalties LLC (“Sweetwater Royalties”) today announced the completion of the acquisition of the Wyoming, Colorado and Utah Land Grant assets (the “Land Grant”) from Occidental Petroleum Corporation (“Occidental”). Sweetwater Royalties is a base metals and industrial minerals royalty company owned by Orion Mine Finance (“Orion”). Sweetwater Royalties holds more than four million mineral acres and one million fee surface acres in Wyoming, Utah and Colorado. The Land Grant assets date to the Pacific Railroad Act of 1862 and provide immediate cash flow and value through a diverse array of natural resources, primarily trona.
“Sweetwater is immediately positioned to create opportunity and grow our business as a result of an outstanding asset base and strong partners across the Land Grant,” commented W. John DeCooman, President and CEO. “We are also thankful for the hard work and efforts demonstrated by Orion and Occidental to complete the sale transaction which enables Sweetwater to begin an exciting journey of exploring new business opportunities and strengthening long-standing relationships to create value.”
“We are very pleased to have supported Sweetwater in closing this acquisition. Going forward Orion’s role is to closely support Sweetwater in continuing the existing and successful partnerships with operators, while also working with other individuals and businesses who have an interest in doing further exploration work on the Land Grant.” Said Jon Lamb, Portfolio Manager at Orion. “We look forward to Sweetwater’s success both in Wyoming and beyond.”
About Sweetwater Royalties
Sweetwater Royalties is a base metals and industrial minerals royalty company with more than four million mineral acres and one million fee surface acres in Wyoming, Utah and Colorado (the “Land Grant”). Sweetwater provides its partners the opportunity for development of the natural resources on the Land Grant assets, access to grazing, and entry to the renewable energy sector. By utilizing an agile business strategy that enables collaboration with local partners on the ground, Sweetwater unlocks the value of its natural resources, including the largest known trona deposit. Sweetwater Royalties LLC is a privately held company established by Orion Mine Finance.
Orion is a global alternative investment management firm with approximately US$6.2 billion under management (as of 3/31/2020). Orion specializes in institutional metals investment strategies in the industrial and precious metals space. Orion’s private equity, hedge fund, and merchant service divisions enable us to access in-depth knowledge of the global metals and mining supply chain and robust insight into the physical and financial demand driving global metals prices.
For more information visit www.orionresourcepartners.com.