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| Appian Capital Advisory Critical Minerals |
Fund Aims to Support Sustainable Mining in Africa and Latin America
Appian Capital Advisory, a UK private equity firm, partners with the World Bank’s International Finance Corporation (IFC) to launch a $1 billion fund. The fund targets critical minerals, metals, and mining projects in emerging markets. IFC anchors the fund with an initial $100 million commitment. The goal is to finance responsible, high-impact mining essential for economic growth, energy transition, and digital technologies. This fund uniquely focuses solely on emerging markets, emphasizing Africa and Latin America.
First Investment Focuses on Nickel-Copper-Cobalt Mine in Brazil
The fund’s maiden investment is Atlantic Nickel’s Santa Rita mine in Bahia, Brazil. The mine transitions from open-pit to underground production, aiming to produce 30,000 tonnes of nickel equivalent annually. The mine life exceeds 30 years. Appian owns Atlantic Nickel and commits $600 million through 2030 for this transition. IFC invests on equal terms with other investors. This project exemplifies the fund’s focus on sustainable development with strict environmental, social, and governance (ESG) criteria aligned with international best practices.
Strategic Partnership Advances Sustainable Mining and Local Development
IFC’s managing director, Makhtar Diop, highlights mining’s role in job creation and economic growth. The partnership leverages private capital to develop critical resources and benefit local communities. This fund marks IFC’s first collaboration with a metals and mining private equity firm. Appian and IFC have jointly developed successful rare earth and gold projects in Africa. Appian manages $5 billion in assets and has brought more mining projects into production than the five largest mining companies combined since 2016.
ScrapInsight Commentary
This $1 billion fund underscores growing investor focus on sustainable critical minerals supply chains in emerging markets. The partnership enhances capital flow to responsible mining projects, critical for energy transition metals. Regulatory and ESG standards will shape future investment viability and support circular economy goals.
