25th Aug 2017 08:15
Pan African Resources Plc - Update on Environmental Permitting for ElikhuluPan African Resources Plc - Update on Environmental Permitting for Elikhulu
PR Newswire
London, August 25
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 OfficeThe Firs Office Building1st Floor, Office 101Cnr. Cradock and Biermann AvenuesRosebank, JohannesburgSouth Africa
Office: + 27 (0) 11 243 2900Facsimile: + 27 (0) 11 880 1240
Registered OfficeSuite 31Second Floor107 CheapsideLondonEC2V 6DNUnited Kingdom
Office: + 44 (0) 20 7796 8644Facsimile: + 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
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Pan African Resources