The International Finance Corporation (IFC) has allocated about 70% of its initial $100 million commitment to a mining investment fund launched with Appian Capital Advisory. A World Bank Group spokesperson confirmed that level of allocation to Reuters on Wednesday, 4 November 2026. The money has been directed towards three investments in Ghana, Namibia and Brazil.
The update, equivalent to roughly $70 million, marks the move from the partnership announced in October 2025 to identified transactions. Appian and IFC initially unveiled a vehicle with potential commitments of up to $1 billion, anchored by the World Bank Group’s private-sector arm with its first $100 million.
Two African projects among the first allocations
In Ghana, the investment covers Asante Gold’s gold mines. In Namibia, it backs Omico Copper and its Omitiomire copper project. The third investment is in Atlantic Nickel’s nickel, copper and cobalt operation in Brazil. Appian executive Michael Scherb named the three assets in comments to Reuters, without disclosing how much of the funding went to each company.
In Namibia, Appian announced in May 2026 that it had acquired 95% of Omico Copper. The firm plans to invest more than $400 million to develop the Omitiomire deposit and bring the copper project into production.
Under the structure announced at launch, the fund can invest through equity, credit and mining royalties. Appian expects to allocate the remainder of IFC’s initial commitment by the end of 2026 as it selects further projects across Africa and Latin America.