Appian Capital Advisory Limited, the investment advisor to long-term value-focused private capital funds that invest in companies in metals, mining, and adjacent industries, has announced the launch of a critical minerals, metals and mining fund for emerging markets in partnership with International Finance Corporation (IFC), a member of the World Bank Group.
The Fund will have a total capital commitment of up to $1 billion and will invest alongside Appian’s existing and successor funds, supporting the development of responsible, high-impact mining projects for commodities essential to energy access, critical industries and future-facing technologies.
As per the deal, IFC will anchor the Fund, with an initial contribution of $100 million. Additional capital will be mobilised by the IFC Asset Management Company (AMC).
The Fund will invest across equity, credit and royalties, with a mandate to generate strong financial returns while contributing to development impact, job creation and improved community outcomes
It is the first dedicated mining fund focused exclusively on emerging markets, targeting critical minerals and commodities required for economic growth, the energy transition and key digital technologies
It represents IFC’s first fund established in partnership with a metals and mining private equity investor.
The Fund’s first investment is in Atlantic Nickel’s producing Santa Rita project in Brazil. This is a co-investment alongside Appian to advance the underground development of a large-scale nickel-copper-cobalt asset with a 30+ year mine life.
Management teams backed by the Fund will have access to Appian’s deep technical and financial expertise to accelerate project development and value creation, along with ESG, community development and stakeholder engagement support from sustainability specialists at IFC and the World Bank
IFC and Appian have a ten-year investing relationship, including two investments in Africa across rare earths and gold, which resulted in successful mine builds and realizations
Managed by Appian, the Fund will co-invest alongside Appian Natural Resources Fund III and Appian Credit Strategies Fund I (together “the funds”), as well as future Appian funds. It will target equity, credit and royalty investments in the metals, mining, and adjacent industries across emerging markets, with a focus on Africa and Latin America. All investments made through the Fund will be required to meet IFC’s rigorous performance criteria and environmental, social, and governance (“ESG”) standards.
Michael W. Scherb, Founder and CEO of Appian, said: "We are proud that IFC has entrusted Appian with the management of this landmark fund. This is a strong endorsement of our ability to identify and responsibly develop high-quality assets, unlocking long-term value for our partners."
"It also underscores the vital role mining can play in driving sustainable economic growth and delivering lasting benefits for local communities, particularly in regions where development needs are most pressing. Management teams supported by the Fund will now be backed by two leading institutions in our industry. We look forward to advancing this partnership to accelerate responsible and sustainable resource development globally," he stated.
Makhtar Diop, Managing Director of IFC, said: "IFC is delighted to partner again with Appian on this innovative investment vehicle. Minerals are essential for building industries, creating jobs, and driving economic growth."
"Partnering with companies like Appian will help bring more private capital to places that need it the most, expanding access to critical resources and helping local communities benefit from the development of their mineral wealth," he added.-TradeArabia News Service
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