Morocco Ranks Among Appian’s Top Three African Mining Investment Destinations

Morocco has been identified as one of the three most attractive mining jurisdictions in Africa by British investment firm Appian Capital Advisory, alongside Namibia and Botswana, as the fund prepares to expand its investment activity across the continent.

Appian plans to mobilise between $5 billion and $7 billion globally over the next 12 to 24 months, with approximately $2 billion earmarked for Africa, according to comments by Chief Executive Officer Michael Scherb reported by Reuters.

Scherb highlighted the importance of predictable government policies and stable tax and regulatory frameworks in determining where mining companies and investors commit capital. He warned that uncertainty surrounding changes to mining regulations, increased royalties and local ownership requirements could encourage investors to direct funding towards more predictable markets.

The planned African investment comes as Appian currently holds three active stakes in mining projects on the continent, having exited three others.

Copper remains a key investment focus

Appian specialises in financing mining projects across commodities including gold, copper, zinc and rare earths. Copper is a particular focus for the fund, with demand expected to increase as electrification expands and investment in data centres and artificial intelligence infrastructure accelerates.

The fund expects global copper supply to struggle to keep pace with this projected growth, creating opportunities for investment in new mining projects.

Morocco’s inclusion among Appian’s preferred African mining jurisdictions highlights its potential to attract international mining capital. However, converting investor interest into actual project commitments will depend partly on the country’s ability to provide a stable and competitive operating environment as African mining destinations compete for funding.