What is the story about?
What's Happening?
Rosh Pinah Zinc has secured a $150 million debt facility from Standard Bank to fund the expansion of its underground mine in Namibia, known as RP2.0. The expansion aims to modernize infrastructure and nearly double production output to 170 million pounds of zinc metal annually. Construction is over 80% complete, with full completion expected by the third quarter of 2026. The financing follows extensive due diligence and is seen as a strong endorsement of the project's commercial viability and environmental standards.
Why It's Important?
The expansion of the Rosh Pinah mine is crucial for increasing zinc production, which is vital for various industries, including construction and manufacturing. The investment reflects confidence in the project's long-term viability and its adherence to environmental, social, and governance standards. This development could enhance Namibia's position in the global mining sector and contribute to economic growth in the region. It also highlights the role of financial institutions in supporting sustainable mining practices.
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