Pan African Resources is focusing on finding and developing fresh gold resources at its Barberton operations in an area that has been mined for 130 years but still has attractive prospects. Having scoured Africa, in particular West Africa, for growth opportunities, Pan African has realised it has better deposits on its mining tenement in Mpumalanga and is pushing hard at its Royal Sheba prospect to bring an open-cast mine into production, CEO Cobus Loots said on Thursday. Acknowledging that investor appetite for deep-level, labour-intensive mining in SA has all but evaporated, Loots outlined Pan African’s strategy to develop low-cost, safe, mechanised operations, such as its recently commissioned R1.74bn Elikhulu tailings retreatment plant at Evander and the potential Royal Sheba mine at Barberton.
Pan African, which is listed in London and Johannesburg, shut its Evander underground mine, shedding 1,700 jobs, after monthly losses of R30m. Delivering the Elikhulu project to ste...
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