Pan African on track for further output growth
Dual-listed gold miner Pan African Resources increased its production by 6.7% year-on-year to 98 458 oz for the six months ended December 31.
The company explains that its Barberton Mines underground operation reported increased mined tonnages and grades, compared with the six months ended December 31, 2022, while a ramp-up of mining at Evander Mines’ 24 Level underground operations also contributed to higher gold production.
Some metallurgical recovery improvements were also reported at the Elikhulu tailings retreatment project for the six-month period under review.
Pan African maintains its guidance for the full 2024 financial year, to end on June 30, at between 180 000 oz and 190 000 oz; however, given the excellent production performance in the reporting period, the company says it may consider revising guidance before the end of the year.
Production in the 2025 financial year will be significantly higher as Pan African aims to commission the Mogale tailings retreatment project, in Gauteng, later this calendar year, which will add 50 000 oz/y, or 25%, to production.
As of December, Pan African had completed laying foundations for nine carbon-in-leach tanks and the construction of a tower crane.
Pan African reports that the construction of the Fairview mine’s 8.75 MW solar energy plant, in Barberton, is progressing according to plan, with commissioning expected in June.
The company will release its interim results on or about February 14.
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