Pan African's R2.8bn gold project could boost production to 100 000 ounces annually

PAN AFRICAN Resources' feasibility study on its Soweto cluster tailings storage facilities (Soweto TSFs) indicates potential for a significant increase in gold production that is likely to cost some R2.8 billion.

- EDWARD WEST

Short term expansion through December, notwithstanding the feasibility study plans, is expected to increase production to 60 000 ounces a year from 50 000 ounces a year, the company announced on Thursday.

"The successful commissioning of the MTR operation in October 2024, completed ahead of schedule and under budget, again demonstrated Pan African's ability with regards to successfully commissioning tailings retreatment operations," said the CEO Cobus Loots.

The company's board said a feasibility study has been completed to process the Soweto TSFs, which were acquired in 2021. The Soweto TSFs are said to contain mineral reserves of 108 million tons at 0.28 grams per ton for 0.98 million ounces of gold.