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London-based private equity firm acquires 89.96% interest in Rosh Pinah zinc mine

London-based private equity firm acquires 89.96% interest in Rosh Pinah zinc mine

Appian Capital Advisory, the investment advisor to long-term value-focused private capital funds that invest in mining and mining-related companies, on Tuesday announced the acquisition of an 89.96% interest in the Rosh Pinah zinc mine, from Trevali Mining Corporation.

Located in the Kharas region, the Rosh Pinah is an operating underground zinc-lead mine with a 2,000 tonnes per day milling operation.

“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,” said Michael W. Scherb, Founder and CEO of Appian in a statement released Tuesday.

“We look forward to welcoming the 450 employees at Rosh Pinah to Appian as we utilize our extensive operational and project development expertise to support the existing management team with delivering the Rosh Pinah 2.0 expansion project. We extend our gratitude to the Namibian government, our valued partners, and the local community for their trust and support,” he added.

The Rosh Pinah mine has been in continuous operation since 1969, producing zinc and lead sulphide concentrates, as well as smaller amounts of copper, silver, and gold.

According to Scherb, Appian plans to restart the Rosh Pinah 2.0 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,” he said.

According to Scherb, 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 which includes: Controlling ownership enabling Appian to apply its best-in-class technical and operating capabilities to optimize existing operations and deliver the Rosh Pinah 2.0 expansion project safely; attractive expansion project that will significantly improve the mine’s cost position and extend mine life; significant upside from near mine exploration and already identified prospects and operating mine with an experienced management team that has strong technical skills and in-depth knowledge of the asset.

Appian has a global team of 70 experienced professionals with presences in London, New York, Toronto, Vancouver, Lima, Belo Horizonte, Montreal, Dubai, and Perth.


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