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Appian and World Bank arm say 70% of $100 million mining commitment deployed

By Reuters News

DAKAR, Nov 4 (Reuters) - Appian Capital Advisory has deployed about 70% of the International Finance Corporation's (IFC) initial $100 million commitment under a flagship mining investment vehicle launched last year into projects in Ghana, Namibia and Brazil.

  • The IFC, the private-sector arm of the World Bank, launched the $1 billion partnership with Appian in 2025

  • Almost all of the capital has been invested within 12 months, Appian Chief Executive Michael Scherb told Reuters last week

  • A World Bank Group spokesperson said on Tuesday around 70% of IFC's initial commitment had been allocated across three investments

  • The fund is IFC's first emerging-markets metals and minerals vehicle and its first with a mining-focused private equity investor

  • The capital has been deployed into Asante Gold's ASE.V gold mines in Ghana, Omico Copper's copper project in Namibia and Atlantic Nickel's nickel-copper-cobalt operation in Brazil, Scherb said

  • Appian expects to deploy the balance by year-end as it selects projects from a pipeline in Africa and Latin America

  • Appian said the pace of investment showed how public and private capital can work together to fund responsible mining projects in emerging markets.

  • Appian has helped bring 12 mines into production. Last month, the company said it was in talks with the European Bank for Reconstruction and Development and other development finance institutions to replicate its IFC partnership

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