World Bank Group’s private investment arm is looking to solve a new problem: global copper supply.
What’s happening:
- The International Finance Corporation and Appian Capital Advisory are forming a new $1B USD fund to invest into copper projects globally
Why it matters:
- The International Finance Corporation is the private investment arm of World Bank Group and this is the first time ever that they have partnered up with a natural resource fund to invest directly into mining projects
Going deeper:
- Appian Capital Advisory has roughly $5B USD in assets under management and has successfully brought a dozen mines into full scale production over the past decade
- Copper prices have continued to surge lately, which has notably been fuelled by an acceleration in demand from renewable power projects and data centre build outs as well as a major lack of new supply from major mining companies globally
