Rosh Pinah Zinc (“RPZ”) and Appian Capital Advisory Limited (the investment advisor to long-term value-focused private capital funds, “Appian”) are pleased to announce that RPZ has secured a US$150 million debt facility underwritten by Standard Bank to finance the development of its expansion project, RP2.0.
- US$150 million debt financing obtained to fund RPZ’s expansion project
- The financing is a key milestone for the expansion, which will modernize its infrastructure and nearly double RPZ’s production output
- Construction is over 80% complete and remains on budget
Appian, the majority shareholder of RPZ, undertook a competitive tender process with multiple parties and is pleased to partner with Standard Bank in this transaction. The financing will fund the remaining construction costs of RPZ’s expansion, with the project now funded through to ramp-up.
Standard Bank’s backing of the expansion builds on its established relationship with RPZ and follows extensive technical, legal, environmental, and social due diligence. It offers a strong endorsement of the commercial viability and ESG standards of RP2.0.
The RP2.0 expansion project comprises further development of the underground mine, as well as the construction of new surface facilities, including a new processing plant, the addition of a paste fill and water treatment plant, and a newly developed portal and decline to extended underground deposits. RP2.0 will almost double the mine’s production output to 170 million lb/year of contained zinc metal.
Construction of RP2.0 surface facilities is now over 80% complete and remains on budget. Construction completion is expected in Q3 2026, with ramp-up commencing in quick succession.
Alex Mayrick, General Manager, Rosh Pinah Zinc, commented: “RPZ is pleased to have concluded this important deal, which will provide us with financial flexibility as we continue to progress the construction of RP2.0. Standard Bank is a longstanding supporter of RPZ 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, commented: “Securing this financing is a major step forward for RPZ and RP2.0. The expansion is a key component of our strategy to optimize 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.
For further information:
Andrew Todd, Head of Communications: +44 7990416759 / [email protected]
+44 (0)20 7004 0951 / [email protected]
About Appian Capital Advisory
Appian Capital Advisory Ltd is the investment advisor to long-term value-focused private capital funds that invest in companies in metals, mining, and adjacent industries.
Appian is a leading investment advisor with global experience across South America, North America, Australia and Africa and a successful track record of supporting companies in metals, mining, and adjacent industries to achieve their development targets, with a global operating portfolio overseeing approximately 6,000 employees.
Appian has a global team of 100 experienced investment professionals, combining financial and technical expertise, with presences in London, Abu Dhabi, New York, Dubai, Belo Horizonte, São Paulo, Beijing, Hong Kong, Toronto, Lima and Perth.
For more information, please visit www.appiancapitaladvisory.com, or find us on LinkedIn, Instagram or Twitter/X.
About Rosh Pinah Zinc
Rosh Pinah Zinc is an operating underground zinc-lead mine located in southwestern Namibia, approximately 800km southwest of Windhoek, acquired by Appian in June 2023. The mine has been in continuous operation since 1969, producing concentrates containing, zinc, lead and silver.
Rosh Pinah Zinc is progressing an expansion project, RP2.0. The expansion project involves the continued development of the underground mine, along with the construction of new surface infrastructure. This includes a new processing plant, a paste fill plant, a water treatment facility, and a newly developed portal and decline providing access to extended underground deposits.
For more information, please visit www.roshpinahzinc.com or find us on LinkedIn or Instagram.
