Embattled base metals miner Trevali Mining will sell its 90% interest in the Rosh Pinah mine, in Namibia, to Appian Natural Resources Fund III and Appian Natural Resources (UST) Fund III.
This forms part of a court-sanctioned sales process, initiated in September, for Trevali’s interest in Rosh Pinah, as well as its wholly-owned Caribou mine, in Canada.
Trevali in August suspended operations at Caribou and halted plans to expand Rosh Pinah after filing for protection from its creditors.
The company has suffered a number of setbacks this year, including flooding at its Perkoa mine, in Burkina Faso, which resulted in the deaths of eight people.
Trevali will seek court approval for the transaction with Appian and expects the sale to close in the first quarter of 2023.