Jim O'Neill, the former Goldman Sachs economist who coined the term Bric to refer to the emerging economies of Brazil, Russia, India and China began to talk up the prospects of another group of emerging nations in November 2013. He wrote that the Mint economies of Mexico, Indonesia, Nigeria and Turkey all had favourable demographics and interesting economic prospects, the same criteria he had accurately used to predict future growth of the Bric economies.
In November 2013 the FT's Beyond Brics emerging markets hub considered prospects for the Mint economies and examined where investors were actually putting their money. EPFR data showed that Mint economies had attracted $17.1bn against $141.73bn invested in Bric economies.
Also in November 2013 an FT writer referred to the new Mint grouping as a means of illustrating how important Africa had become.