Update on Environmental Permitting for Elikhulu

About this update from Pan African Resources Plc

[{"type":"text","content":"\n \nPan African Resources PLC\n\n(“Pan African Resources” or “the Company” or “the Group”)\n\n(Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000)\n\nShare code on AIM: PAF\n\nShare code on JSE: PAN\n\nISIN: GB0004300496\n\nUPDATE ON ENVIRONMENTAL PERMITTING FOR THE ELIKHULU TAILINGS RETREATMENT PROJECT (“ELIKHULU”)\n\nPan 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.\n\nCobus 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.\n\n 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.”\n\nFor further information on Pan African Resources, please visit the Company’s website at www.panafricanresources.com\n\n25 August 2017\n\nCorporate OfficeThe Firs Office Building1st Floor, Office 101Cnr. Cradock and Biermann AvenuesRosebank, JohannesburgSouth Africa\n\nOffice:   + 27 (0) 11 243 2900Facsimile: + 27 (0) 11 880 1240\n\nRegistered OfficeSuite 31Second Floor107 CheapsideLondonEC2V 6DNUnited Kingdom\n\nOffice:   + 44 (0) 20 7796 8644Facsimile: + 44 (0) 20 7796 8645 \n\n\n\nCobus Loots\n Deon Louw\n\n\n\nPan African Resources PLC\nPan African Resources PLC\n\n\n\nChief Executive Officer\nFinancial Director\n\n\n\nOffice: + 27 (0) 11 243 2900\nOffice: + 27 (0) 11 243 2900\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPhil Dexter\nJohn Prior / Paul Gillam\n\n\n\nSt James's Corporate Services Limi...

More updates from Pan African Resources Plc