Appian and IFC launch $1bn fund for critical minerals market

Core Insights - A $1 billion fund has been launched by UK-based private equity firm Appian Capital Advisory and the International Finance Corporation (IFC) to develop critical minerals and metals projects in emerging markets [1][2] - The fund aims to support responsible mining projects essential for energy access and industrial growth, focusing on high-impact projects in Africa and Latin America [2][6] - The first investment will be in the Santa Rita nickel-copper-cobalt mine in Brazil, which is expected to produce around 30,000 tonnes of nickel equivalent annually over a 30-year mine life [4][5] Fund Structure and Objectives - IFC will contribute an initial $100 million to anchor the fund, with additional capital expected through the IFC Asset Management Company [1][2] - The fund will invest in equity, credit, and royalties while adhering to IFC's environmental, social, and governance standards [2][5] - The fund is designed to foster economic growth and social benefits in host countries through job creation and capacity building [6] Strategic Importance - The partnership between Appian and IFC highlights the vital role of mining in driving sustainable economic growth and delivering benefits to local communities [3][7] - This fund represents IFC's first partnership with a metals and mining private equity investor and is dedicated to emerging markets [5]