CHAMWE KAIRA
Appian Capital Advisory LLP, the investment advisor to long-term value-focused private capital funds that invest in mining and mining-related companies, has acquired an 89.96% interest in the producing Rosh Pinah zinc mine, located in the south of the country from Trevali Mining Corporation.
Rosh Pinah is an operating underground zinc-lead mine with a 2000 tonnes per day milling operation and Appian plans to restart the Rosh Pinah mine expansion project which will nearly double the mine’s annual ore throughput to 1.3 million tonnes and improve safety and environmental performance.
Appian will retain the existing site management team and workforce, who have substantive technical expertise and understanding of the asset.
Rosh Pinah is one of three recent investments by Appian in the attractive zinc market, a base metal which is playing an increasingly important role in the energy transition.
Michael W. Scherb, Founder and CEO of Appian, commented: “This acquisition marks a significant milestone for Appian as we continue to develop our world-class portfolio of highly attractive zinc assets, a critical metal that will help facilitate the upcoming energy transition. We look forward to welcoming the 450 employees at Rosh Pinah to Appian as we utilise our extensive operational and project development expertise to support the existing management team with delivering the Rosh Pinah expansion project. We extend our gratitude to the Namibian government, our valued partners, and the local community for their trust and support.”
Rosh Pinah is an operating underground zinc-lead mine with a 2000 tonnes per day milling operation, located in southwestern Namibia, approximately 800 km south of Windhoek. The mine has been in continuous operation since 1969, producing zinc and lead sulphide concentrates, as well as smaller amounts of copper, silver and gold.
Appian plans to restart the Rosh Pinah expansion project which envisages the construction of new processing facilities, including the addition of a paste fill and water treatment plant, as well as a dedicated portal and decline to extended deposits. The project will increase mill throughput from 0.7 million tonnes to 1.3 million tonnes of ore per annum, increasing zinc equivalent production to 170 million pounds per annum, on average.
Following Vedra Metals in Italy and Pine Point in Canada, Rosh Pinah is Appian’s third investment in the attractive zinc market, and a strong fit with Appian’s investment strategy.
Appian said the attractive expansion project that will significantly improve the mine’s cost position and extend mine life.
