Pan African Resources green light for R1.74bn tailings retreatment project
The board of gold and platinum miner Pan African Resources has approved construction of the R1.74bn Elikhulu tailings retreatment project at its Evander mine to extract at least 100,000oz of gold from old dumps. Pan African, which is listed in Johannesburg and London, said the board’s approval was conditional on finalising a financing scheme for the project, due to commence production at the end of 2018 after construction starts early next year. "The project’s execution and operational risk is deemed to be low, and the robust nature of the project’s cash-flow generation allows for a relatively high level of debt funding," it said.
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