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10/12/2012

Pan African Resources undergoes "game changing" acquisition

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Market: AIM
Sector: General Mining - Gold
EPIC: PAF
Latest Price: 14.50p  (-3.33% Descending)
52-week High: 21.75p
52-week Low: 13.00p
Market Cap: 264.09M
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Pan African Resources
www.panafricanresources.com
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Pan African is a South African based precious metals mining company producing approximately 95,000 ozs of gold and, when in full production in May 2012, 12,000 ozs pgm per annum. In January, the company announced a joint venture with Wits Gold to acquire the Evander Gold Mines from Harmony for a consideration of up to R1.7 billion,...

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Pan African Resources starts construction of Barberton tailings retreatment plant

April 04 2012, 11:16am Commissioning of the Barberton tailings retreatment plant is scheduled for April 2013, and full production should be reached in August 2013

Pan African Resources (LON:PAF) said it has started construction work for the tailings retreatment plant on the Barberton gold mine complex in South Africa.

The bulk earthworks at the Barberton Tailings Retreatment Plant (BTRP) will be followed by laying the foundation for the mechanical construction of the carbon-in-leach tanks, which is scheduled to commence in June 2012.

Contractor Basil Read-Matoma, which designed the plant and will procure and construct it, has established itself on site with a temporary office.

The team will be on site for the next two years.  Commissioning of the BTRP is scheduled for April 2013, and full production should be reached in August 2013.

Chief executive Jan Nelson said: "The beginning of construction on this plant resembles a mirror image of our successful Phoenix platinum project. The BTRP is no more complex than Phoenix but is a much larger scaled project and will enable 100 tons of feed an hour,
compared to the current 30 tons an hour at Phoenix.

“We have the same highly skilled team from BasilRead-Matoma dedicated to this project who will work together with our management team at Barberton. I am therefore confident of the same outcome for a successful commissioning in April 2013."

The BTRP is planned to increase annual production at Barberton to 120,000 ounces from 95,000 ounces.

The BTRP has been designed to treat 100,000 tons tailings per month to produce a saleable product. Current tailings from the Fairview concentrator and the Fairview BIOX plant on the mining complex totalling 14,000 tons per month will be routed via a pipeline to the BTRP for treatment, and 86,000 tons per month will be reclaimed from the adjacent Bramber tailings storage facility.

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