Mining-focused investment adviser Appian Capital Advisory has completed the acquisition of a controlling 89.96% stake in the Rosh Pinah zinc/lead mine from Trevali Mining for an undisclosed amount.
This acquisition follows Trevali being granted a sales and investment solicitation process (SISP) order by the British Columbia Supreme Court, enabling them to divest their controlling stake in the Namibia mine.
The transaction, which was announced in December of last year, was subject to regulatory approval from the Ministry of Mines and Energy, exchange control approval from the Bank of Namibia, approval from the Namibia Competition Commission, and finally, approval from the British Columbia Supreme Court.
“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 currently operates as an underground zinc/lead mine with a milling operation capable of processing 2,000 tonnes per day.
With controlling ownership now in Appian’s hands, the company intends to leverage its technical and operational capabilities to restart the Rosh Pinah 2.0 mine expansion project.
This initiative aims to increase the mill’s ore throughput from 700,000 tonnes per year to 1.3 million tonnes per year, consequently raising zinc-equivalent production to an average of 170 million pounds annually.
The expansion project involves the construction of new processing facilities, including a paste fill and water treatment plant, as well as the addition of a dedicated portal and decline to access extended deposits.
Appian is confident that the expansion project will enhance the mine’s cost efficiency and extend its overall lifespan, with the potential for further benefits from near-mine exploration and previously identified prospects.
Appian plans to retain the existing site management team and workforce, who possess substantial technical expertise and a deep understanding of the asset.
Rosh Pinah has been in continuous operation since 1969, producing zinc and lead sulphide concentrates, alongside smaller quantities of copper, silver, and gold.
This acquisition of Rosh Pinah represents one of Appian’s three recent investments in the zinc market, with the company also investing in Vedra Metals in Italy and Pine Point in Canada.
The company has extensive global experience across South America, North America, Australia, and Africa, managing a global operating portfolio that oversees nearly 5,000 employees.
