Pan African maps route to 100,000 ounces a year at Mogale with Soweto tailings study

Mining Gold & Silver Written by: Ian Lyall 07:59 Fri 11 Sep 2026 --> Proactive has a commercial relationship with Pan African Resources PLC. This article was produced independently under Proactive's Editorial Standards Policy . Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business output at the Daily... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Pan African Resources PLC ( LSE:PAF OTCQX:PAFRY JSE:PAN ) View Price & Profile Pan African maps route to 100,000 ounces a year at Mogale with Soweto tailings study Published: 07:59 11 Sep 2026 BST Pan African Resources PLC (LSE:PAF, OTCQX:PAFRY, JSE:PAN) , the London- and Johannesburg-listed gold producer, has completed a definitive feasibility study on its Soweto Tailings Retreatment project in South Africa, setting out a path to nearly double output from its Mogale complex. The study points to annual production of 35,000 to 40,000 ounces of gold over a roughly 15-year life, lifting peak output from the wider Mogale Tailings Retreatment complex to around 100,000 ounces a year. Life-of-mine production is estimated at approximately 561,000 ounces. The project, on the West Rand of Gauteng, involves retreating the Soweto Cluster tailings storage facilities acquired through the Mintails transaction, which hold reserves of around 108 million tonnes at 0.28 grams per tonne, containing roughly 0.98 million ounces. A 600,000 tonnes per month retreatment circuit would be built next to the existing Mogale processing facility, sharing its elution, carbon regeneration, electrowinning and smelting infrastructure to cut capital intensity. A value engineering review shaved approximately 718 million rand off the price tag, trimming estimated capital from 4.40 billion rand to 3.68 billion rand (US$216 million), including a new tailings storage facility and remining infrastructure. At a gold price of US$3,550 an ounce, the project delivers a post-tax net present value of about 1.85 billion rand (US$109 million), an internal rate of return of 29.55% and a payback period of roughly three years after commissioning. All-in sustaining costs are pegged at US$1,750 to US$1,800 an ounce over the life of the mine, before any savings from renewable energy supply. Construction would take around 28 months from a final investment decision, which is targeted for December 2026, subject to board approval, financing and permits. Principal environmental authorisations are expected during the 2027 financial year. Chief executive Cobus Loots said the study defines a project offering "attractive returns, meaningful production growth and accelerated environmental rehabilitation". He added that the scheme would simultaneously address historical environmental liabilities on the West Rand, with retreatment of the old facilities speeding up the clean-up of the surrounding areas. Continue reading