Appian and IFC launch $1bn mining investment partnership
Managed by Appian, the fund will invest across equity, credit, and royalty opportunities.
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Private equity firm Appian Capital Advisory and the International Finance Corporation (IFC), have launched a new $1 billion partnership to accelerate the responsible development of critical minerals, metals and mining related projects in emerging markets. IFC will anchor the fund, with an initial contribution of $100 million, and the remaining $900 million will be mobilised by the IFC Asset Management Company.
The fund, managed by Appian, will invest alongside Appian’s existing and future funds across equity, credit and royalties. It will target critical minerals, precious metals and commodities essential to the global energy transition and future-facing technologies, with a particular focus on Africa and Latin America.
Michael W. Scherb, founder and CEO of Appian, commented: “This is a strong endorsement of Appian’s 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.”
Makhtar Diop, managing director of IFC, commented: “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.”
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