https://www.miningweekly.com

Pan African Resources reports higher gold, PGE reserves

12th September 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

Font size: - +

Africa-focused precious metals producer Pan African Resources last week announced a 9.8% gross yearly increase in group gold reserves to 10.1-million ounces, up from 9.2-million ounces previously.

The company said that 600 000 oz of this increase was attributable to its Barberton mines and the remainder to its Evander mines.

Pan African also reported a 67% increase in group platinum-group elements (PGE) reserves to 500 000 oz, attributable to the restating of the modifying factors in the mineral reserve of the Phoenix platinum mine, in the North West.

Meanwhile, the company pointed out that its gold resources had declined 4.5% year-on-year to 33.5-million ounces, while PGE resources decreased 14% to 600 000 oz.

The company attributed the decrease in gold mineral resources to a lower gold price.

“Exploration drilling and work to increase access and development of orebodies at the group’s key projects have progressed and have added incremental resource ounces,” Pan African said, adding that the ongoing conversion of resources to reserves was expected to continue to increase life-of-mine production profiles.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Showroom

Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.129 0.164s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: