Appian, IFC Launch US$1 Bln Mining Fund For Emerging Markets

KUALA LUMPUR, Oct 21 (Bernama) -- Appian Capital Advisory Limited (Appian), the investment advisor to long-term value-focused private capital funds, has launched 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 US$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. (US$1=RM4.21)

“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,” said Appian Founder and Chief Executive Officer, Michael W. Scherb.

According to a statement, the Fund is anchored by IFC and aligns with the institution’s investment mandate to finance private sector development in emerging markets while delivering both financial returns and measurable development impact.

It will have a fiduciary duty to IFC Asset Management Company (AMC) introduced investors, ensuring their interests are safeguarded through disciplined oversight, transparency and a commitment to long-term value creation.

Managed by Appian, the fund will co-invest alongside Appian Natural Resources Fund III and Appian Credit Strategies Fund I, as well as future Appian funds, targeting equity, credit and royalty investments in the metals, mining, and adjacent industries across emerging markets, with a focus on Africa and Latin America.

In addition, the fund has agreed to invest in Brazil’s Santa Rita nickel-copper-cobalt mine located in Bahia state, which is currently transitioning to underground production, expecting to ramp up production to approximately 30,000 tonnes per year of nickel equivalent, with a mine life exceeding 30 years.

The first mining-focused vehicle established exclusively to invest in emerging markets, the fund will finance mineral development projects across all stages, including construction, production and expansion, fostering lasting economic growth and social benefits in host countries through capacity building, job creation, exports and contributions to fiscal revenues.

-- BERNAMA