#JustIn: Rosh Pinah gets new majority shareholder

UK-based Appian Capital Advisory has bought 89.96% interest in the producing Rosh Pinah zinc mine, located in the //Kharas Region, from Trevali Mining Corporation.

Trevali had a 90% stake in the mine.

Appian is an investment advisor to long-term value-focused private capital funds that invest in mining and mining-related companies.

Rosh Pinah is an operating underground zinc-lead mine with a 2 000 tonnes per day milling operation.

In a statement, Appian said it planned to restart the Rosh Pinah 2.0 mine expansion project, which will nearly double the mine’s annual ore throughput to 1.3 million tonnes and improve safety and environmental performance.

The company will retain the existing site management team and workforce, who have substantive technical expertise and understanding of the asset, it said.

“This acquisition marks a significant milestone for Appian as we continue to develop our world-class portfolio of highly attractive zinc assets, a critical metal that will help facilitate the upcoming energy transition,” said Michael W. Scherb, founder and CEO of Appian.