December 17, 2017

Pan African Resources Plc granted permits for Elikhulu Tailings Retreatment Project

The Department of Water and Sanitation has granted Pan African Resources an Integrated Water Use Licence for ELilikhulu has been granted for a period of 20 years.

The Integrated Environmental Authorisation  been issued in terms of the National Environmental Management Act 107 of 1998.

In effect, the two licences means environmental regulatory permits are therefore in place to commence construction of Elikhulu.

Cobus Loots, chief executive officer, commented: “The granting of the environmental permitting for Elikhulu is the final regulatory approval required for the construction of Elikhulu.

Elikhulu is scheduled to produce first gold in the final quarter of the 2018 calendar year and expected to produce approximately 50,000 ounces per annum for the next 13 years, at an all-in sustaining cost of less than US$550/oz.

Elikhulu’s capital expenditure of approximately R1.7 billion (approximately US$130 million) is a substantial investment by South African mining industry standards and is expected to contribute materially to economic development and employment in the Mpumalanga Province.



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