Appian appoints Paulo Castellari as CEO of critical minerals unit

Mining-focused private equity firm Appian Capital Advisory has appointed former Eramet CEO Paulo Castellari to head its critical minerals unit, the firm said on Wednesday, as it scales investment in energy transition commodities.

The appointment comes as competition intensifies for access to battery metals and rare earths needed for electric vehicles, renewable energy and digital infrastructure.

Castellari joins after an abrupt exit from French mining group Eramet in February, just a few months into his tenure, citing disagreements on “operating methods”.

He previously held senior roles at Anglo American and Emirates Global Aluminium.

At Appian, he will oversee existing investments across graphite, mineral sands and rare earths, while pursuing new opportunities in commodities essential for energy security and future-focused technologies, the company said in a release.

The firm manages around $5 billion in assets.

Castellari previously led Appian’s Brazil assets for six years until 2025.

In October, Appian launched a $1 billion fund with the World Bank’s International Finance Corporation to invest in critical minerals projects in Africa and Latin America. The fund, anchored by a $100 million IFC commitment, targets nickel, copper, cobalt and rare earths.

“As we continue to grow our critical minerals portfolio, Paulo’s experience will play a pivotal role in advancing our projects and unlocking long-term value for all our partners,” said Michael Scherb, Appian founder and CEO.

(By Clara Denina; Editing by Mark Potter)