Pan African Resources PLC
(“Pan African Resources” or “the
Company” or “the Group”)
(Incorporated and registered in
England and Wales under Companies Act 1985 with registered
number 3937466 on 25 February
2000)
Share code on AIM: PAF
Share code on JSE: PAN
ISIN: GB0004300496
UPDATE ON ENVIRONMENTAL PERMITTING FOR THE ELIKHULU TAILINGS
RETREATMENT PROJECT (“ELIKHULU”)
Pan African Resources is pleased to advise that the Integrated
Water Use Licence for Elikhulu has been granted by the Department
of Water and Sanitation, for a period of 20 years. Furthermore, the
Integrated Environmental Authorisation has also been issued in
terms of the National Environmental Management Act 107 of 1998. All
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 in the South African mining industry and is
expected to contribute materially to economic development and
employment in the Mpumalanga province.”
For further information on Pan African Resources, please visit
the Company’s website at www.panafricanresources.com
25 August 2017
Corporate Office
The Firs Office Building
1st Floor, Office 101
Cnr. Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa
Office: + 27 (0) 11 243 2900
Facsimile: + 27 (0) 11 880 1240
Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom
Office: + 44 (0) 20 7796 8644
Facsimile: + 44 (0) 20 7796 8645
Cobus Loots |
Deon Louw |
Pan African Resources PLC |
Pan African Resources PLC |
Chief Executive Officer |
Financial Director |
Office: + 27 (0) 11 243 2900 |
Office: + 27 (0) 11 243 2900 |
|
|
|
|
|
|
Phil Dexter |
John Prior / Paul Gillam |
St James's Corporate Services
Limited |
Numis Securities Limited |
Company Secretary |
Nominated Adviser and Joint
Broker |
Office: + 44 (0) 20 7796 8644 |
Office: +44 (0) 20 7260 1000 |
|
|
Sholto Simpson |
Matthew Armitt / Ross Allister |
One Capital |
Peel Hunt LLP |
JSE Sponsor |
Joint Broker |
Office: + 27 (0) 11 550 5009 |
Office: +44 (0) 20 7418 8900 |
|
|
Julian Gwillim |
Jeffrey Couch/Neil Haycock/Thomas
Rider |
Aprio Strategic Communications |
BMO Capital Markets Limited |
Public & Investor Relations
SA |
Joint Broker |
Office: +27 (0)11 880 0037 |
Office: +44 (0) 20 7236 1010 |
|
|
Bobby Morse/Chris Judd |
|
Buchanan Communications |
|
Public & Investor Relations
UK |
|
Office: +44 (0) 207 466 5000 |
|
www.panafricanresources.com