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Pan African Resources PLC - Rosebank-headquarted gold producer - Announces its 10-megawatt solar plant has started generating electricity at subsidiary Evander Gold Mines Ltd as part of the commissioning process. The solar plant will provide an estimated 30% of the power requirement at Evander's Elikhulu tailings retreatment plant and materially reduce electricity costs. The R 150-million solar plant is the first of this capacity to be commissioned by a miner in South Africa.
Pan African is close to complete a feasibility study on the 12MW expansion to power Evander's underground growth projects. Construction is expected to start during the 2023 financial year. The gold producer also is finalising an additional 8MW plant to be constructed at Barberton Mines Ltd during 2023. This will bring the total solar capacity to 30MW by 2024 across the group's assets.
Johannesburg current stock price: R 4.05, down 1.2% on Tuesday
12-month change: up 6.0%
London current stock price: 20.55 pence, down 1.2%
12-month change: up 5.4%
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