Pan African Resources reports lower gold production in FY23, expects higher output next year gold Africa
- South African gold miner Pan African Resources announced Monday that its gold production for the financial year ended 30 June 2023 was 175,209oz, down 15% from FY22 and within the revised guidance range.
The company said the decrease in gold production was primarily due to slower than anticipated ramp-up of continuous operations at Barberton Mines, lower than expected production from Evander Mines' underground operations, as well as challenges related to Eskom generated electricity supply. Pan African Resources’ all-in sustaining cost for the reporting period is expected to be between US$1,325/oz and US$1,350/oz.The company also announced its FY24 production guidance of between 178,000 and 190,000oz.
Importantly, Pan African said the continuous operations at its Barberton underground mines and other improvements are now “positively impacting” production, with increased production expected in the year ahead. Pan African Resources is a mid-tier African-focused gold producer that owns and operates a portfolio of South African operations with a production capacity of more than 200,000oz of gold per annum.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
West African leaders to meet Thursday as Niger’s junta defies key deadline, shuts airspaceRegional bloc ECOWAS has warned of using military force if the democratically elected President Mohamed Bazoum isn’t returned to power
Read more »
Nine new wildfires confirmed in northeastern Ontario SaturdayOntario’s Ministry of Natural Resources and Forestry has taken to Twitter to remind people that flying drones around forest fires is dangerous and illegal
Read more »
Canada suspends all direct funding to Niger's government after coup | CBC NewsOttawa has announced it will stop providing financial assistance to Niger's government in the wake of a military coup in the West African country. Global Affairs Canada says the coup is a serious threat to democracy and stability in the region.
Read more »
Canada suspending direct aid to Niger's government after military coupOttawa has announced it will stop providing financial assistance to Niger's government in the wake of a military coup in the West African country.
Read more »