PAF Pan African Resources Plc

Pan African Resources PLC

(“Pan African Resources” or “the Company” or “the Group”)

(Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000)

Share code on AIM: PAF

Share code on JSE: PAN

ISIN: GB0004300496

UPDATE ON ENVIRONMENTAL PERMITTING FOR THE ELIKHULU TAILINGS RETREATMENT PROJECT (“ELIKHULU”)

Pan 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.

Cobus 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.

 
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.”

For further information on Pan African Resources, please visit the Company’s website at www.panafricanresources.com

25 August 2017

Corporate Office
The Firs Office Building
1st Floor, Office 101
Cnr. Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa

Office:   + 27 (0) 11 243 2900
Facsimile: + 27 (0) 11 880 1240

Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom

Office:   + 44 (0) 20 7796 8644
Facsimile: + 44 (0) 20 7796 8645
 

www.panafricanresources.com