Rosh Pinah Zinc secures US$150m to fund major expansion

Rosh Pinah Zinc (RPZ) and Appian Capital Advisory Limited (Appian) have announced that RPZ has secured a US$150 million debt facility, underwritten by Standard Bank, to finance the development of its expansion project, RP2.0.


This financing marks a significant milestone for the expansion, which aims to modernise the mine’s infrastructure and almost double its production output. Appian, the majority shareholder of RPZ, conducted a competitive tender process and is delighted to partner with Standard Bank on this transaction. The funding will cover the remaining construction costs of the expansion, ensuring the project is fully financed through to its ramp-up phase.


Standard Bank’s support for the expansion builds on its long-standing relationship with RPZ and follows extensive technical, legal, environmental, and social due diligence. This endorsement highlights the commercial viability and strong ESG standards of the RP2.0 project.


The RP2.0 expansion involves the further development of the underground mine and the construction of new surface facilities. These facilities include a new processing plant, a paste fill and water treatment plant, and a newly developed portal and decline to access extended underground deposits. The project is projected to nearly double the mine’s production output to 170 million lb/year of contained zinc metal. Construction of the RP2.0 surface facilities is now over 80% complete and remains within budget. Construction is expected to be completed in the third quarter of 2026, with ramp-up commencing shortly thereafter.


Alex Mayrick, general manager at Rosh Pinah Zinc, commented on the deal, stating that RPZ is pleased to have finalised this important agreement, which will provide the company with financial flexibility as it continues to progress with the construction of RP2.0. “RPZ is pleased to have concluded this important deal, which will provide us with financial flexibility as we continue to progress the construction of RP2.0. Standard Bank is a longstanding supporter of RPZ and a leading financial partner for the metals and mining industry in Africa. We are encouraged by their confidence in the project and our long-term vision.”


Ignacio Bustamante, head of base metals at Appian, said securing financing is a major step forward for RPZ and RP2.0. He explained that the expansion is a key part of Appian’s strategy to optimise operations and extend the mine’s life at RPZ. “Securing this financing is a major step forward for RPZ and RP2.0. The expansion is a key component of our strategy to optimize operations and extend mine lifeat RPZ. With this funding, we can continue to focus on developing an asset that will deliver value for all stakeholders for many years to come.”