Hong Kong-listed Taung Gold will submit several applications to the Department of Mineral Resources in March to start development of its R7bn Evander gold project in Mpumalanga, it said with the release of its interim results to September. The Evander project would represent a significant capital investment at a time when SA’s biggest gold miners are reluctant to make long-term investments because of a weak gold price as well as regulatory uncertainty. Taung Gold bought the Jeanette project near Allanridge in the Free State and the Evander assets from Harmony Gold Mining. The Evander project consists of the mothballed No6 shaft of the old Winkelhaak mine and undeveloped Twistdraai property south of it. In 2011, 87% of Taung was bought by Wing Hing, a Hong Kong-registered company with a Chinese gold mine, for $580m (then almost R5bn), which analysts said at the time seemed a very high price for projects that Harmony had not considered to be viable. Anglo American sank two shafts at J...
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