The first 10 MW solar plant at Evander gold-mining operation of Pan African Resources is reducing group all-in sustaining costs (AISC) by more than $10/oz with this number set to increase in coming years as Eskom tariffs continue to escalate, Pan African Resources CEO Cobus Loots said during the presentation of the London- and Johannesburg-listed company’s dividend-yielding 2023 financial results. In May 2023, construction of the group’s second solar plant commenced at Barberton Mines.
JOHANNESBURG – The first 10 MW solar plant at the Evander gold mining operation of Pan African Resources is reducing group all-in sustaining costs by more than $10/oz with this number set to increase in coming years as Eskom tariffs continue to escalate, Pan African Resources CEOsaid during the presentation of the London- and Johannesburg-listed company’s dividend-yielding 2023 financial results.This plant, with a capacity of 8.
From production aspect, our surface assets performed in line with expectations and we will demonstrate the progress with Barberton’s underground This asset mix should reduce the company’s AISC profile, with Elikhulu Tailings Retreatment Plant and Mintails Tailings Retreatment producing at an AISC of about $1 000/oz.
It has one year remaining on its Barberton wage agreement and the underground contractor at Evander has entered into a three-year wage agreement with the union, which will provide stability as production is grown. Gold production of 175 209 oz in the 12 months to June 30 and 178 000 oz to 190 000 oz is being guided for the new financial year.
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