Appian Capital Advisory targets $2 billion for African mining

Appian Capital Advisory, a London-based mining private equity firm, plans to invest approximately $2 billion in Africa over the next 12 to 24 months. This allocation is part of a larger global deployment target of $5 billion to $7 billion during the same period.

CEO Michael Scherb noted that while African geology remains attractive, policy uncertainty is driving significant capital toward Latin America. He observed that many African governments have tightened control over mining sectors by revising codes, increasing royalties, and demanding higher local participation. In contrast, Latin American nations have generally maintained more stable fiscal and permitting regimes.

Appian identifies Morocco, Namibia, and Botswana as top-tier mining jurisdictions. The firm is also evaluating opportunities in Ghana, Ivory Coast, Mauritania, and Senegal. The investment strategy focuses on gold, copper, zinc, rare earths, and other critical minerals essential for electric vehicles and advanced technologies.