Trevali finds buyer for Rosh Pinah mine


Namibia zinc mine, Rosh Pinah, has new owners - Appian Natural Resources Fund III LP and Appian Natural Resources (UST) Fund III LP - who acquired 90% shareholding from Trevali Mining.

Appian Natural Resources Funds are long-term value-focused private equity funds that invest in mining and mining-related companies.

Trevali is a Vancouver-based base-metals mining company.

Operations at the Rosh Pinah mine have been on hold since August 2022 after Trevali's mine has been Trevali's Burkina Faso mine, Perkoa, was flooded, resulting in the death of eight people.

The share and asset purchase agreement deal were announced on 16 December 2022, three months after the Supreme Court of British Columbia approved the sale.

The new owners agreed to buy Trevali's shares in its UK subsidiary GLCR Limited and assume the debt owed by some of Trevali's subsidiaries according to applicable loan agreements.

Trevali says they expect the deal to close in the first quarter of 2023 after getting approval from the Namibia Competition Commission, the agriculture, the Bank of Namibia and other customary closing conditions. 

The National Bank Financial acted as financial advisor to the company regarding the transaction.


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