Appian plans $2 billion in African mining investments
By the AFREEQUE newsroom, based on Financial Afrik and Infos Gabon
Illustrative image · mk_photoz · Pexels · Licence PexelsAppian Capital Advisory plans to invest about $2 billion in Africa over the next 12 to 24 months from a global allocation of $5 billion to $7 billion, according to Financial Afrik and Infos Gabon. Morocco is among the preferred jurisdictions cited by Financial Afrik, while Infos Gabon refers to seven as-yet-unidentified countries and describes a strategy targeting critical minerals in particular.
Appian Capital Advisory plans to allocate about $2 billion to mining investments in Africa over the next 12 to 24 months, from a global allocation of between $5 billion and $7 billion, according to Financial Afrik. Infos Gabon describes this allocation as intended for seven countries on the continent, while Financial Afrik names Morocco among the preferred mining jurisdictions.
Founded and led by Michael Scherb, the British fund focuses its operations on metals and minerals. Infos Gabon specifies that Appian takes substantial or majority stakes in projects under development or operating mines, before supporting their expansion and then selling them to industrial companies.
The seven targeted jurisdictions have not been officially identified, Infos Gabon reports. The outlet nevertheless names Zambia and the Democratic Republic of the Congo as areas likely to attract capital for copper and cobalt, South Africa for platinum-group metals, and Mozambique and Madagascar for graphite and nickel.
The move comes as the United States and the European Union seek to diversify their supplies of critical minerals for batteries, electricity grids and electric vehicles, according to Infos Gabon. The fund intends to mobilise long-term financing and technical expertise amid the strong presence of Chinese investors in several African mining sectors.
