Chamwe Kaira
Rosh Pinah Zinc and Appian Capital Advisory Limited have secured a US$150 million (about N$2.78 billion) debt facility underwritten by Standard Bank to finance the mine’s RP2.0 expansion project.
The company stated that the financing will cover the remaining construction costs of the project, which is currently funded up to the ramp-up phase.
Construction is more than 80% complete and remains on budget. Appian, the majority shareholder of Rosh Pinah Zinc, ran a competitive tender process with several parties before selecting Standard Bank as the partner.
“The financing will fund the remaining construction costs of Rosh Pinah’s said expansion, with the project now funded through to ramp-up. Standard Bank’s backing of the expansion builds on its established relationship with Rosh Pinah and follows extensive technical, legal, environmental, and social due diligence. It offers a strong endorsement of the commercial viability and Environmental, Social, and Governance (ESG) standards of RP2.0,” Appian Capital said.
The RP2.0 expansion includes the development of the underground mine and the construction of new surface facilities.
These include a new processing plant, a paste fill and water treatment plant, and a new portal and decline to extended underground deposits.
When completed, the expansion is expected to almost double the mine’s production to 170 million pounds of contained zinc metal per year.
Completion is expected in the third quarter of 2026, with ramp-up starting shortly after.
Alex Mayrick, general manager of Rosh Pinah Zinc, said the company is pleased to have finalised the deal, which gives it financial flexibility to continue advancing the construction of RP2.0.
“Standard Bank is a longstanding supporter of Rosh Pinah Zinc and a leading financial partner for the metals and mining industry in Africa. We are encouraged by their confidence in the project and our long-term vision.”
Ignacio Bustamante, head of base metals at Appian, said securing this financing is a major step forward for RPZ and RP2.0.
“The expansion is a key component of our strategy to optimise operations and extend mine life at RPZ. With this funding, we can continue to focus on developing an asset that will deliver value for all stakeholders for many years to come.”
Endeavour Financial acted as Appian’s financial advisor for the transaction.
Appian Capital Advisory is an investment advisor to long-term private capital funds that invest in metals, mining, and related industries.
Caption
The Rosh Pinah Zinc expansion is expected to be completed in the third quarter of 2026.
- Photo: Rosh Pinah Zinc
