Rosh Pinah Zinc (RPZ) has secured N$2.6 billion (US$150 million) in financing to complete its RP2.0 expansion project in southern Namibia.
The funding, arranged by Standard Bank, will increase ore throughput from 0.7 million tonnes per year to 1.3 million tonnes, significantly boosting zinc concentrate output.
The project involves upgrades to the processing plant, new surface infrastructure and improved tailings storage facilities.
Rosh Pinah Zinc General Manager, Alex Mayrick, said the agreement highlighted investor confidence in Namibia’s mining sector and the long-term value of the expansion.
“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,” Mayrick said.
Appian Capital Advisory, investment advisor to RPZ’s majority shareholder, also welcomed the deal. Ignacio Bustamante, Head of Base Metals at Appian, said: “Securing this financing is a major step forward for RPZ and RP2.0.
The expansion is a key component of our strategy to optimise operations and extend mine life at 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.”
Construction of RP2.0 is already underway and is scheduled for completion in 2025.
