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Appian acquires controlling stake in Rosh Pinah

The Rosh Pinah mine in Namibia

The Rosh Pinah mine in Namibia

27th June 2023

By: Darren Parker

Creamer Media Contributing Editor Online

     

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Mining-focused investment adviser Appian Capital Advisory has acquired an 89.96% interest in the producing Rosh Pinah zinc/lead mine, located in the Kharas region in southern Namibia, from Trevali Mining.

Rosh Pinah is an operating underground zinc/lead mine with a 2 000 t/d milling operation.

Controlling ownership will enable Appian to apply its technical and operating capabilities to restart the Rosh Pinah 2.0 mine expansion project, which will nearly double the mill’s ore throughput from 700 000 t/y to 1.3-million tonnes a year, increasing zinc-equivalent production to 170-million pounds a year, on average.

The expansion project 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. It will also focus on improving the mine’s safety and environmental performance.

Appian believes the expansion project will improve the mine’s cost position and extend mine life, with a significant upside from near-mine exploration and already identified prospects also in play.

The company said in a statement on June 27 that it would 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 zinc market, following investment in Vedra Metals, in Italy, and Pine Point, in Canada. Appian believes zinc is playing an increasingly important role in the global energy transition.

“This acquisition marks a significant milestone for Appian. We look forward to welcoming the 450 employees at Rosh Pinah to Appian as we use our extensive operational and project development expertise to support the existing management team with delivering the Rosh Pinah 2.0 expansion project,” Appian CEO and founder Michael W Scherb said.

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

Appian bought Rosh Pinah as part of Canadian firm Trevali Mining's court-sanctioned sales process, initiated in September last year.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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