Staff Reporter
ROSH Pinah Zinc (RPZ) has secured a N$2.6bn (US$150 million) debt facility underwritten by Standard Bank to complete its RP2.0 expansion project, a development set to modernise operations and nearly double the mine’s zinc production.
Appian Capital Advisory Limited, RPZ’s majority shareholder, led a competitive tender process with multiple lenders before selecting Standard Bank. The financing will cover the remaining construction costs, ensuring the project is fully funded through to ramp-up.
Standard Bank’s support follows extensive technical, legal, environmental, and social due diligence, underscoring confidence in the commercial viability and ESG standards of RP2.0.
The expansion includes further underground mine development, a new processing plant, a paste fill and water treatment facility, and a newly developed portal and decline to access extended deposits. Once complete, RP2.0 is expected to boost production capacity to 170 million pounds of contained zinc per year.
Construction of surface facilities is currently more than 80% complete and remains on budget. Full completion is targeted for the third quarter of 2026, with ramp-up to follow shortly thereafter.
Alex Mayrick, General Manager of RPZ, said the financing provides the company with the flexibility to complete the project. “Standard Bank is a longstanding supporter of RPZ and a leading partner in African mining. Their confidence reinforces our long-term vision for RP2.0.”
Ignacio Bustamante, Head of Base Metals at Appian, described the financing as a “major step forward” for the project. “The expansion is central to our strategy to optimise operations and extend mine life, delivering long-term value for all stakeholders.”
Endeavour Financial acted as financial advisor to Appian in the transaction.
Photo: Appian Capital Advisory
