Pan African says on track to meet full-year guidance
Mining News Pro - Precious metals miner Pan African Resources CEO Cobus Loots says the company delivered a “commendable operational and safety performance, amid the challenges of the ongoing Covid-19 pandemic” during the six months ended December 31.
  Zoom:

In an operational update for the six months, published on January 22, Pan African reported a 5.9% year-on-year increase in gold production to 98 386 oz.

Gold production from Barberton was 52 354 oz, while the Elikhulu and Evander mines produced 26 863 oz and 19 169 oz, respectively.

“Barberton mine’s gold production of 52 354 oz for the current reporting period deserves recognition and demonstrates the excellent progress that this flagship asset and its operating team have made in reserve development and infrastructure optimisation,” acclaimed Loots.

He added that Pan African was on track to meet its full-year production guidance of about 190 000 oz.

“We expect operations at the Evander Mines’ 8 Shaft pillar to deliver a much-improved performance during the remainder of the 2021 financial year, as the pillar mining activities gather momentum.

“We have now commenced with early preparation work and limited capital expenditure for the execution phase of the Egoli project. We expect to finalise the debt funding package within the first quarter of the 2021 calendar year. This organic growth project will contribute considerably to our future gold production,” indicated Loots.

The construction of the solar photovoltaic plant at Evander Mines will begin during the first quarter of the current calendar year, with first power expected to be generated during the third quarter of the calendar year.

“This plant will be one of the first of its kind in the South African mining sector and demonstrates our commitment to environmental, social and governance initiatives.

“In conjunction with several other projects, it also underpins the group’s profitability and sustainability,” Loots noted.


Share the news

In Picture