Mining company Rosh Pinah Zinc (RPZ) has secured a $150-million debt facility underwritten by Standard Bank to finance the development of its expansion project, RP2.0, at its underground mine in Namibia.

The financing is highlighted as a key milestone for the expansion, which is expected to modernise the Rosh Pinah mine’s infrastructure and nearly double the mine’s production output to 170-million pounds a year of contained zinc metal.

Construction is over 80% complete and remains on budget, with completion expected in quarter three 2026, and ramp-up starting in quick succession.

Investment adviser Appian Capital Advisory, the majority shareholder of RPZ, undertook a competitive tender process with multiple parties partnered with Standard Bank in this transaction.

The financing will fund the remaining construction costs of the mine’s expansion, with the project now funded through to ramp-up.

Standard Bank’s backing of the expansion builds on its established relationship with RPZ and follows extensive technical, legal, environmental and social due diligence, Appian points out, adding that it offers a strong endorsement of the commercial viability and environmental, social and governance standards of RP2.0.

The RP2.0 expansion project comprises further development of the underground mine, as well as the construction of new surface facilities, including a new processing plant, the addition of a paste fill and water treatment plant and a newly developed portal and decline to extended underground deposits.

“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,” says RPZ GM Alex Mayrick.

“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,” says Appian base metals head Ignacio Bustamante.

Endeavour Financial acted as Appian’s financial adviser for the transaction.