Modern Mining January 2025

Processing plant CIL tanks.

“As gold miners, we continually seek to increase our annual production and resource base, which is why the assets acquired from Mintails, one of the last large remaining

concurrent rehabilitation and reprocessing phase. Following PAR’s decision to fast-track project construction, initially targeting the employment of 700 people during the construction phase, of which 500 would be local, as the requisite skills set is not always readily available in the area of operation, the miner subsequently more than doubled employment opportunities. Skills sets

surface sources for gold in the country, are so important to our future growth aspirations,

as they add low-cost ounces to our production for the next two decades. Moreover, coming in at AISC of $1 000/oz reduces the average group production cost, which means that the asset portfolio

were sourced within a 20-25km radius, including from the Krugersdorp, Mogale City and Soweto areas. “We subsequently employed some 1600 people for the construction phase, which is how we were able to ramp up the construction time-frame. Of the 1600 people employed, over 1 000 were locals. This translated to a huge cash injection for the area – not only in terms of direct employment but also employment in the form of local suppliers, such as tank construction specialists, catering and electrical equipment suppliers, etc. The knock-on effect of the added

We employed some 1600 people for the construction phase, which is how we were able to ramp up the construction time frame. Of the 1600 people employed, over 1 000 were locals.

becomes highly profitable, making our investment case all the more attractive.” Importantly, with the gold price setting new records, having climbed above the $2750 oz mark at the end

of October 2024, gold miners are reaping the rewards of the spectacular gold run, PAR anticipates a significantly reduced payback period on its Mintails loan of between two- and three years at these high prices. Job creation

activities has been a tremendous shot in the arm for the local economy. We also engaged in training and skills development initiatives with the objective that the workers would, once the contract ended, aim to start their own businesses or find employment in related industries.” MTR – PAR’s future growth asset With its 20-year LOM and surface mining opportunity– namely, the Soweto cluster – MTR offers PAR strong future growth prospects. “Our current plant has a capacity of 800 000 tons per month and in line with our future growth aspirations, we are currently mulling

At a whopping R2,5bn, the Mintails project is currently one of the largest new mining investments in the country and has done much to invigorate the project area in the West Rand of Gauteng. Given the high unemployment rate in the area, PAR boosted the local economy through employment during the construction phase of the project and now through the

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