🕐01.07.13 - 09:54 Uhr
PAN AFRICAN ANNOUNCEMENT: COMMENCES PRODUCTION AT BARBERTON TAILINGS RETREATMENT PROJECT
1 July 2013
Pan African Resources announcement
Pan African commences production at Barberton Tailings Retreatment Project
Pan African, the African focused precious metals producer, has successfully
commissioned the Barberton Tailings Retreatment Project (BTRP), at its
Barberton Mines (BGMO) and on Friday 28th June 2013 undertook its
inaugural gold pour.
The BTRP project, which commenced construction in April
2012, was completed on schedule and within budget.
Situated adjacent to the Bramber Tailings Storage Facility (TSF) at the
Fairview Mine, the retreatment project was designed to retreat 100,000
tonnes of gold tailings per month at an estimated average cash cost of
US$800/oz.
The plant utilises a Carbon in Leach process followed by
electro-winning and smelting to produce a saleable gold product.
The project
will source about 12,000 tonnes per month of current tailings via a pipeline
from the Fairview Concentrator and BIOXR plant and some 88,000 tonnes per
month from the TSF.
The BTRP is expected to ramp up to full capacity of 100,000 tonnes per month
at an average recovered grade of 0.52g/t by 2nd quarter 2014.
It has a
current life of mine of six years and will provide Pan African with an
additional 20,000oz of gold per annum, increasing BGMOs gold output by
approximately 20% to 115,000oz per year.
The total capital expenditure budget of the project was ZAR305 million
(US$31million), of which approximately 90% has been invoiced to date.
All of
the construction capital requirements were funded via internal cash flows
from BGMO.
Basil Read-Matomo who successfully constructed Pan Africans Phoenix
Platinum Chrome Tailings Retreatment Plant, designed and constructed the
BTRP.
The project is managed by an experienced team including BGMO General
Manager, Mr Casper Strydom and Metallurgy Manager, Mr Jonathan Irons.
The
BTRP has created an additional 86 direct employment opportunities in the
Barberton area.
Ron Holding, joint interim CEO commented: "We are proud to have commissioned
this project on schedule and within budget.
The achievement reaffirms our
ability to deliver on our development plans at our operations.
It also
demonstrates the potential for future success of our other organic growth
projects at Barberton and Evander."
ENDS
Contacts:
Pan African Joint Interim CEO, Ron Holding; 011 243 2900
Vestor Media & IR, Louise Brugman; 011 787 3015, 083 504 1186
Logo_sharper02
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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