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Boost For Sustainable Growth: Private Equity Firm Joins Forces With World Bank To Meet Global Minerals Demand
The global demand for critical minerals and metals has been on the rise in recent years, driven by the growing need for renewable energy sources, electric vehicles, and industrial applications. In response to this growing demand, UK-based private equity firm Appian Capital Advisory and the International Finance Corporation (IFC), a World Bank Group member, have launched a $1 billion fund focused on developing critical minerals and metals projects in emerging markets.
The partnership is expected to play a significant role in promoting responsible mining practices and unlocking long-term value for investors. The fund aims to support high-impact projects that are essential for energy access and industrial growth, investing in equity, credit, and royalties, targeting projects in emerging markets, particularly in Africa and Latin America. Investments will adhere to IFC’s environmental, social, and governance (ESG) standards, ensuring compliance with international best practices.
“We are proud that IFC has entrusted Appian with the management of this landmark fund,” said Michael Scherb, founder and CEO of Appian Capital Advisory. “This is a strong endorsement of our ability to identify and responsibly develop high-quality assets, unlocking long-term value for our partners.” Scherb added that the partnership 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.
The fund’s first investment will be in the Santa Rita nickel-copper-cobalt mine in Brazil, owned by Atlantic Nickel, an affiliate of Appian. This project, which is currently transitioning to underground production, is expected to produce around 30,000 tonnes of nickel equivalent annually over a 30-year mine life.
IFC will contribute an initial $100 million to anchor the fund, with further capital expected through the IFC Asset Management Company. The partnership is seen as a significant milestone in promoting private sector development and achieving financial returns while driving development impact. For IFC, this investment partnership with Appian aligns perfectly with its mandate to promote private sector development.
“For IFC, this investment partnership with Appian aligns perfectly with our mandate to promote private sector development,” said Makhtar Diop, managing director of IFC. “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 most, expanding access to critical resources and helping local communities benefit from the development of their mineral wealth.”
The partnership is expected to have a positive impact on the mining sector in emerging markets, particularly in Africa and Latin America. The region is home to an abundance of mineral-rich deposits, but the extraction of these resources often poses significant challenges, including environmental degradation, social unrest, and inadequate governance.
By supporting responsible mining practices, the fund aims to promote sustainable development and reduce the negative impacts associated with mining operations. This will not only benefit local communities but also contribute to the long-term viability of mining projects. The launch of the $1 billion fund marks a significant turning point for Appian Capital Advisory and IFC, with the partnership expected to play a critical role in shaping the future of the mining sector in emerging markets.
As the global demand for critical minerals and metals continues to grow, the importance of partnerships like this one cannot be overstated. By working together, Appian Capital Advisory and IFC can drive sustainable economic growth and development in emerging markets, while also promoting responsible mining practices that benefit local communities.
The partnership is a testament to the power of collaboration between private sector investors and multilateral development institutions. It highlights the importance of investing in critical minerals and metals, not only for economic growth but also for social and environmental reasons. As the world transitions towards a low-carbon economy, the extraction and processing of critical minerals will play an increasingly important role.
The fund’s investment in the Santa Rita nickel-copper-cobalt mine in Brazil serves as a prime example of its focus on supporting high-impact projects that drive energy access and industrial growth. The project’s potential to produce around 30,000 tonnes of nickel equivalent annually over a 30-year mine life makes it an attractive investment opportunity for investors.
The partnership between Appian Capital Advisory and IFC is also significant because it marks the first mining-focused fund dedicated to emerging markets. This will not only provide critical financing for mining projects but also promote sustainable development in regions where access to capital is limited.
As the global economy continues to evolve, partnerships like this one will play an increasingly important role in driving growth and development. By supporting responsible mining practices and promoting sustainable development, Appian Capital Advisory and IFC can contribute to a more prosperous future for emerging markets.