Abu Dhabi, Private capital investor Appian Capital Advisory Limited has joined forces with the International Finance Corporation (IFC) to launch a new US$1 billion Critical Minerals, Metals, and Mining Fund, aimed at financing responsible, high-impact mining projects in emerging markets. The fund will target essential commodities that underpin the energy transition, clean technologies, and industrial growth, marking the first mining-focused vehicle dedicated exclusively to emerging economies.

Anchoring Emerging Market Mining Growth

The IFC, part of the World Bank Group, will anchor the fund with an initial commitment of US$100 million, with additional capital mobilized through the IFC Asset Management Company (AMC). Managed by Appian, the fund will co-invest alongside Appian’s existing and future funds, spanning equity, credit, and royalty structures. The initiative’s dual mandate is to generate competitive financial returns while driving measurable development impact, including job creation, local capacity building, and community investment.

“We are proud that IFC has entrusted Appian with this landmark fund,” said Michael W. Scherb, Founder and CEO of Appian. “This partnership validates our ability to identify and responsibly develop high-quality assets while unlocking long-term value for investors and local communities. Responsible mining can be a powerful engine for sustainable economic growth where it is needed most.”

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A New Standard for Responsible Mining

Every investment made through the fund will adhere to IFC’s ESG and performance standards, recognized globally as among the most rigorous frameworks for responsible resource development. The partnership also marks IFC’s first collaboration with a private equity mining specialist, representing a significant shift in how institutional capital engages with the critical minerals sector.

Makhtar Diop, IFC’s Managing Director, said: “Minerals are essential for building industries, creating jobs, and driving economic growth. Partnering with companies like Appian will help channel private capital to the regions that need it most expanding access to critical resources while ensuring that development translates into tangible benefits for local communities.”

First Investment: Brazil’s Santa Rita Nickel-Copper-Cobalt Mine

The fund’s first investment will be in Atlantic Nickel’s Santa Rita project in Bahia, Brazil, a large-scale nickel-copper-cobalt mine transitioning from open-pit to underground production. The asset, wholly owned by Appian, is expected to produce approximately 30,000 tonnes of nickel equivalent per year over a 30-year lifespan, advancing critical material supply for batteries and electric vehicles. IFC will invest on the same terms as other partners, with independent valuations conducted by Citi and Standard Chartered, underscoring the fund’s commitment to transparency and disciplined governance.

Catalyzing Private Capital for the Energy Transition

With the world’s shift toward decarbonization and digitalization, demand for critical minerals such as nickel, lithium, cobalt, and copper is rising sharply. The new fund aims to fill a persistent financing gap in emerging markets, where resource-rich nations often lack access to large-scale, ESG-aligned investment. The partnership builds on a ten-year relationship between Appian and IFC, which has previously co-financed mining projects in Africa’s rare earth and gold sectors, successfully bringing new mines into production. Appian, which manages approximately US$5 billion in assets, has brought 12 mining projects online since 2016, more than the five largest global mining companies combined during the same period. The firm’s track record of technical excellence and community engagement will be strengthened by IFC’s sustainability expertise and global development mandate.

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A New Blueprint for Sustainable Resource Development

The fund will target opportunities in Africa and Latin America, financing projects across the construction, production, and expansion phases. Each investment will aim to foster inclusive economic growth, drive infrastructure development, and improve fiscal revenues in host countries. By combining Appian’s mining and technical acumen with IFC’s sustainability frameworks, the partnership creates a blueprint for responsible mining finance, one capable of aligning private capital with public development goals. As global demand for critical minerals accelerates, the fund represents a new generation of climate-aligned resource investment balancing profitability, sustainability, and social value to power the industries of the future.

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