Appian announces strategic investment in the operating Rosh Pinah zinc mine in southwestern Namibia
(Adnkronos) - LONDON, June 27, 2023 /PRNewswire/ -- Appian Capital Advisory LLP ("Appian"), the investment advisor to long-term value-focused private capital funds that invest in mining and mining-related companies, is pleased to announce the acquisition of an 89.96% interest in the producing Rosh Pinah zinc mine, located in the Kharas region in southern Namibia, from Trevali Mining Corporation.
Highlights
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 2.0 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 2,000 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 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.
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:
For further information:
FGS Global +44 (0)20 7251 3801 / AppianCapital-LON@fgsglobal.com Charles O'Brien, Richard Crowley, Theo Davies-Lewis
About Appian Capital Advisory LLPAppian Capital Advisory LLP is the investment advisor to long-term value-focused private capital funds that invest solely in mining and mining-related companies.
Appian is a leading investment advisor in the metals and mining industry, with global experience across South America, North America, Australia and Africa and a successful track record of supporting companies to achieve their development targets, with a global operating portfolio overseeing nearly 6,300 employees.
Appian has a global team of 70 experienced professionals with presences in London, New York, Toronto, Vancouver, Lima, Belo Horizonte, Montreal, Dubai and Perth.
For more information please visit www.appiancapitaladvisory.com, or find us on LinkedIn, Instagram or Twitter.
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