Here are the steps I had to take:
- Download and install Apple Xcode 4.3 from Apple's AppStore (yeah, you read it right!)
- The tricky part here was to enable Command Line Tools which is not selected by default in Xcode. To do that, go to Xcode Preferences --> Downloads --> Components and install Command Line Tools. It's just another 170MB over the already downloaded 1.35GB of Xcode :)
- Download Erlang latest release from http://www.erlang.org/download.html
- Extract the Erlang package (i.e. tar -xvf otp_src_R15B.tar) and navigate into the recently created directory
- Run ./configure
- Run ./make
- Run sudo make install
Hope this help you to get your project going...