Appian, IFC Team Up to Secure Critical Minerals, Backing Atlantic Nickel
Nickel prices have plummeted due to oversupply, making it tough to sell nickel mines. Meanwhile, governments worldwide are scrambling to secure critical minerals, with private investors like Appian Capital Advisory stepping in to help.
Appian has teamed up with the World Bank's International Finance Corporation (IFC) to invest $1bn in critical minerals and metals projects in emerging markets. The IFC is initially contributing $100mn, with the rest coming from sovereign investors, pension funds, endowments, and other private investors.
The first project under this partnership is Atlantic Nickel, a Brazilian miner with a complex sales history. Appian will manage this investment, aiming to bolster Atlantic Nickel's operations and secure its nickel supplies.
Governments are actively investing in mining companies to strengthen their critical mineral supply chains. The US government, for instance, is investing in mining companies through a multibillion-dollar fund with Orion Resource Partners, though details on negotiations with Appian are currently unavailable.
Appian's investment in Atlantic Nickel, backed by the IFC and other investors, signals a significant step in securing critical mineral supplies. Despite challenging market conditions, this investment demonstrates the growing interest and collaboration between private investors and governments in the critical minerals sector.
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