Ore Investments

Ore believes that technical depth is the primary driver of alpha in mining investment. By employing directors of geology, engineering, and environment and social on staff, the firm can diligence assets with operator-level scrutiny and participate directly in mine planning, cost reduction, and permitting strategy. This structure also supports hands-on management within portfolio companies.

Ore is an independent asset manager. Its founding partners' sole business and sole economic interest sit inside the management company, which they entirely own. The firm raises capital from institutional and individual limited partners rather than managing a single-family pool of capital.

The firm targets a diversified commodity basket including precious metals (gold), base metals (copper), fertilizers (phosphate), and critical minerals (titanium, vanadium, rare earths). Portfolio companies span battery materials, agricultural inputs, and traditional monetary metals.

Ore invests across the entire mine lifecycle — from early-stage exploration and drilling through construction, reactivation, and operating mines. All current investments sit within Brazil, with active sites from Minas Gerais to Pernambuco.

In early 2025, BNDES and Vale selected a consortium of Ore Investments and JGP BB Asset to manage a fund targeting up to R$1 billion for strategic minerals. The mandate signals institutional validation of Ore's technical diligence model and positions the firm as a government-backed allocator in a sector where sourcing and local operating capability are the binding constraints.

Ore structures its own funds and invests directly into mining companies and joint ventures. The firm does not market itself as a fund-of-funds allocator; its investment thesis centers on building concentrated, technically managed positions in operating and development-stage mineral assets.

Ore's management company is wholly owned by the founding partners, who have no other business interests. This eliminates distractions and conflicts that can arise when a mining fund sits inside a multi-strategy manager competing for capital and talent across asset classes. The partners' personal balance sheets are aligned exclusively with the fund's performance.