Pan African is expecting gold production for the six months ending December 2023 (H1 2024) to be between 94,000oz and 98,000oz, an increase of between 2% and 6%, respectively, compared to 92,307oz a year earlier.
“The expected production performance for the half-year to December 2023 positions the group to deliver excellent results for the full financial year,” said company chief executive Cobus Loots.
Pan African’s full-year 2024 production guidance increased to a range of 180,000oz to 190,000oz, from the previous range of 178,000oz to 190,000oz.
Loots said the continued momentum with the construction of the Mogale Tailings Retreatment (MTR) plant at the group’s Mintails project in South Africa is a testament to their track record of bringing world-class tailings retreatment projects to account.
MTR is expected to commence production at the end of 2024 and will add about 50,000 oz per year to the group's production, increasing its annual output by 25%.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
