Pan African Resources PLC - Barberton Mines


						Barberton Mines, South Africa Barberton first produced gold in 1886, after the discovery of the first gold nugget by Edwin Bray. The mining complex consists of three mines: Fairview, Consort and Sheba. At present Barberton produces approximately 100,000oz of gold per annum, at an average cash cost of approximately US$45/oz. Barberton Mines is the birthplace of BIOX® (‘Biological Oxidation’), an environmentally friendly process of releasing the gold from the sulphide that surrounds, using organisms that perform this process naturally. Barberton is still used as the training facility for all BIOX® plants globally.

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Barberton Mines (South Africa)

Name

The Barberton mining operation

Location

Mpumalanga province (South Africa)

Status

Gold producer

Holding Company

Pan African Resources PLC (100% stake)

Controlling Company

Pan African Resources PLC

Geological Setting

Sediments and metavolcanics within the Barberton greenstone belt

Products Mined

Gold

Actual Production	Tons Per Annum:	315 Kt
	Grade (recovered):	10 g/t
	Content Per Annum:	100 Koz

Ongoing Capex

£5.9 million per annum

Extraction Method

BIOX® / CIL

LOM

15 years

Key Management	Executive Mining:	Ron Holding
	General Manager:	Casper Strydom
	Sustainability and Diversity:	Thandeka Ncube

Barberton Mines Production Summary

* 2010

* 2009

* 2008

** 2007

** 2006

** 2005

Tons Milled

(t)

313,167

313,952

315,305

330,367

313,779

316,094

Headgrade

(g/t)

10.61

10.32

8.9

9.2

10.7

11.1

Overall Recovery

(%)

Production: Underground

(oz)

97,483

94,909

82,436

90,022

99,281

103,847

Production: Calcine Dump

(oz)

3,955

13,513

Gold Sold

(oz)

98,091

97,353

99,078

89,572

99,924

102,914

Average Price: Spot

(USD/oz)

1,098

867

823

640

528

433

Average Price: Hedge

(USD/oz)

n/a

451

415

438

511

Total Cash Cost USD/oz sold

(USD/oz)

650

469

476

465

429

427

Capital Expenditure

(£)

5,918,271

4,052,440

2,901,792

1,637,359

1,091,965

1,021,041

Exchange rate - average

(ZAR/£)

11.93

14.39

14,68

13,95

n/a

Exchange rate - closing

(ZAR/£)

11.53

12.66

15,56

14,18

n/a

* Post-reverse acquisition of Barberton Mines
** Results shown from 2005 to 2007 were attributable to Metorex Limited (previous owners of Barberton Mines).

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