Brazil is already a world-leader in iron ore and is making interesting moves in copper and nickel. Will precious metals be next?

Brazil’s rich geological endowment and solid regulatory framework mean that it is already classed as a tier one mining jurisdiction. One man well placed to assess its relative merits is Michael W. Scherb, the founder of Appian Capital, a UK-headquartered, private equity mining firm that has a big focus on the region. “Latin America is Appian’s top jurisdiction, with most of our capital employed there. We like the region because if you benchmark it against Africa, Latin America outperforms on a risk/reward basis. Within Latin America we have our core of tier one mining countries: Peru, Chile, Brazil, Colombia and Mexico. And within that core, Brazil and Mexico are two of our preferred destinations.”

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