en.Wedoany.com Reported - Appian Capital Advisory LLP, a UK-based private equity fund manager, through its subsidiary Graphcoa Mineração Ltda. ("Graphcoa"), plans to invest BRL 621.76 million (approximately USD 114 million) to develop its second graphite mine in Minas Gerais, Brazil—the Projeto Jordânia (Jordânia Graphite Project). The project is expected to commence production in 2029, with a designed annual capacity of 53,000 tons of graphite concentrate. The investment plan has been included in the documents related to the project's environmental impact license application.
Appian Capital Advisory LLP is a private equity fund manager headquartered in London, UK, specializing in long-term investments in the metals and mining sector. It manages over USD 6 billion in assets and employs approximately 1,200 people globally. Graphcoa is Appian Capital's graphite development platform in Brazil, holding multiple graphite deposits in the states of Bahia and Minas Gerais. Graphcoa's first graphite mine—the Boa Sorte mine in Itagimirim, Bahia—began production in the fourth quarter of 2024, with an initial investment of BRL 350 million. The mine has a designed annual capacity of 5,500 tons of graphite. According to Appian Capital, the company's cumulative investment in graphite exploration and production in Brazil is expected to exceed BRL 2 billion by 2028.
Graphite is a key raw material for the anodes of lithium-ion batteries in electric vehicles and has been designated a critical mineral by multiple countries. The development of the Jordânia project will further expand Appian Capital's footprint in Brazil's graphite production sector and enhance the diversification of the global graphite supply chain. Appian Capital stated that it will continue advancing the development of its graphite assets in Brazil and plans to build downstream processing facilities to meet demand from the North American market.
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