🕐04.04.12 - 11:54 Uhr
ANNOUNCEMENT: PAN AFRICAN COMMENCES EARTHWORKS FOR CONSTRUCTION OF BARBERTON TAI LINGS RETREATMENT PLANT
Press announcement
4th April 2012
Ground-breaking event marks the start of construction of Pan Africans
Barberton Tailings Retreatment Plant.
Pan African Resources has today commenced bulk earthworks for the
construction of its Barberton Tailings Retreatment Plant ("BTRP"), to be
constructed on the Barberton Property, adjacent to the current Bramber
tailings dam.
The commencement of bulk earthworks marks the start of the civil work that
will entail bulk excavations for creating the terracing of the BTRP which
will become the foundation for the mechanical construction of the
Carbon-in-Leach tanks, scheduled to commence in June 2012.
Management contractor firm, Basil Read-Matoma, which designed the plant and
will procure and construct it, has established itself on site with a
temporary office.
The team will be on site for the next two years, until the
commissioning of the plant, which is scheduled for April 2013, ramping up to
full production in August 2013.
Jan Nelson CEO of Pan African Resources was on site to break ground and
noted: "The beginning of construction on this plant resembles a mirror image
of our successful Phoenix platinum project.
The BTRP is no more complex than
Phoenix but is a much larger scaled project and will enable 100 tons of feed
an hour, compared to the current 30 tons an hour at Phoenix.
We have the
same highly skilled team from Basil Read-Matoma dedicated to this project
who will work together with our management team at Barberton.
I am therefore
confident of the same outcome for a successful commissioning in April 2013."
ENDS
About the project
The BTRP comprises a total resource of ~654koz (13.7Mt @ 1.38g/t) and a
reserve of ~248koz (13.7Mt @ 0.56g/t)
The BTRP has been designed to treat 100,000 tons tailings per month through
a Carbon in Leach circuit using electro-winning and smelting to produce a
saleable product.
Current tailings from the Fairview Concentrator and the
Fairview BIOX( R) plant totalling 14,000 tons per month will be routed via a
pipeline to the BTRP for treatment and 86,000 tons per month will be
reclaimed from the Bramber tailings storage facility .
The electric power requirement of 6000 kW to the BTRP will be supplied via
an overhead 11kV line from the South African electricity utility, Eskom.
At a gold price of ZAR400,000 per kilogram Phase One of the project
indicates an NPV of GBP27 million, at a total cash cost of ZAR194,000 per
kilogram (ZAR114 per ton) over the life of the project.
Capex is estimated
at GBP27 million (ZAR325 million) over a three year period.
Phase One is
expected to retreat 1.2 Mt of gold tailings per annum, with a total life of
project production of 160, 000oz of gold at an average recovered grade of
0,54g/t.
This would increase the annual production profile at Barberton by
approximately 20,000 oz per annum.
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media & investor relations
louise brugman
managing director
Tel: +27 (0) 11 787 3015
Cell: +27 (0) 83 504 1186
skype louise.brugman
Email:
Web: www.vestor.co.za
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