Pan African Resources to grow gold output in the next six months

Gold miner Pan African Resources expects to grow output by 16% to about 215,000oz of gold in its current year, but with a substantial uplift to between 235,000 and 250,000oz in its 2026 financial year.

According to the company, production in the six months to end December 2024 will be similar to the same period in 2023 (87,581oz). About 9,000oz of early production from the Mogale Tailings Retreatment (MTR) business will offset a delay in ramping up the Evander No 8 underground shaft’s 24 to 25 levels.

Pan African’s Barberton Mines experienced multiple transformer failures at Fairview and Sheba, which lost 10 days of production in November. Additional contingency actions are being put in place to prevent a recurrence. As a result, Barberton Mines will produce 32,000oz in the first half of the year but is expected to produce about 73,000oz for the full year, excluding the tailings retreatment operation, which is on track.