KEY POINTS
- Appian has deployed about 70% of the IFC’s initial $100 million commitment.
- The money went to projects in Ghana, Namibia and Brazil.
- Appian expects to invest the rest by year-end.
Appian Capital Advisory has deployed about 70% of the International Finance Corp.’s initial $100 million commitment under a flagship mining fund, putting the money into projects in Ghana, Namibia and Brazil, Reuters reported.
The IFC, the World Bank’s private-sector arm, launched the $1 billion partnership with Appian in 2025. It is the IFC’s first emerging-markets metals and minerals vehicle and its first with a mining-focused private equity investor.
Mining fund backs gold, copper and nickel
The capital has gone into Asante Gold’s mines in Ghana, Omico Copper’s copper project in Namibia and Atlantic Nickel’s nickel-copper-cobalt operation in Brazil, Appian CEO Michael Scherb said.
A World Bank Group spokesperson also said Tuesday that around 70% of the IFC’s initial commitment had been allocated across the three investments. Meanwhile, Scherb told Reuters last week that almost all of the capital had been invested within 12 months.
Moreover Appian expects to deploy the rest by year-end, choosing from a pipeline of projects in Africa and Latin America. The company said the pace of investment showed how public and private capital can work together to fund responsible mining in emerging markets.
Appian eyes more development partners
Appian has also helped bring 12 mines into production. Last month, it also said it was in talks with the European Bank for Reconstruction and Development and other development finance institutions to replicate its IFC partnership.
