https://www.polity.org.za
Deepening Democracy through Access to Information
Home / News / All News RSS ← Back
Energy|Gold|Innovation|Mining|Power|Resources|Sustainable|Waste|Water|Environmental|Waste
Energy|Gold|Innovation|Mining|Power|Resources|Sustainable|Waste|Water|Environmental|Waste
energy|gold|innovation|mining|power|resources|sustainable|waste-company|water|environmental|waste
Close

Email this article

separate emails by commas, maximum limit of 4 addresses

Sponsored by

Close

Article Enquiry

Pan African lists new instrument under JSE’s sustainability segment

Close

Embed Video

Pan African lists new instrument under JSE’s sustainability segment

Pan African’s latest R2.5-billion Mogale gold tailing retreatment operation on the West Rand.
Photo by Creamer Media Chief Photographer Donna Slater
Pan African’s latest R2.5-billion Mogale gold tailing retreatment operation on the West Rand.

21st October 2024

By: Martin Creamer
Creamer Media Editor

ARTICLE ENQUIRY      SAVE THIS ARTICLE      EMAIL THIS ARTICLE

Font size: -+

JOHANNESBURG (miningweekly.com) – Gold producer Pan African Resources on Monday announced the listing of a sustainability-linked instrument under the sustainability segment of the JSE.

Following an oversubscribed bookbuild, Pan African Resources (PAR) Funding Company’s PARS03 notes worth R840-million will be listed under a R5-billion domestic medium term note programme.

Advertisement

The framework under which Pan African and its subsidiaries intend to issue sustainability-linked bond instruments or raise sustainability-linked loan instruments is outlined by the Johannesburg- and London-listed company in a statement of purpose.

In this, it highlights investments in innovation and global best practices that mitigate environmental impact through reclamation that stabilises hazardous waste while releasing land areas for other productive uses.

Advertisement

Pursuing ‘beyond compliance’ environmental, social and governance – ESG – is the stated sustainability commitment of the company, headed by CEO Cobus Loots. United Nations Global Compact principles are declared as the guiding lights of its sustainable community development.

Interestingly, mine waste reclamation has created the opportunity to shrink environmental footprint and cut municipal water consumption while creating value.

Payback of Pan African’s latest R2.5-billion Mogale gold tailing retreatment operation on the West Rand is expected in two to three years.

On the clean energy front, a utility-scale renewables plant has been pioneered at Evander, where nearly a third of the energy requirements of the Elikhulu tailings retreatment operation is provided by the sun. Now envisaged at Mogale is a potential 20 MW of renewable power.

The all-in sustaining cost at Mogale is below $1 000/oz amid gold production taking place in a manner that is significantly overshadowing illegal mining, which was formerly prevalent in the area.

Last month, Pan African joined Harmony Gold, DRDGOLD, Gold Fields and AngloGold Ashanti on the Van Eck Gold Miners’ GDX index, a US-managed exchange traded fund that seeks to replicate the price and yield performance of the New York Stock Exchange’s Arca Gold Miners Index, which is intended to track the overall performance of gold mining companies.

The current holding of this fund, which invests on recognised exchanges, was acquired through the JSE.

EMAIL THIS ARTICLE      SAVE THIS ARTICLE ARTICLE ENQUIRY

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here

Comment Guidelines

About

Polity.org.za is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Polity.org.za is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options

Email Registration Success

Thank you, you have successfully subscribed to one or more of Creamer Media’s email newsletters. You should start receiving the email newsletters in due course.

Our email newsletters may land in your junk or spam folder. To prevent this, kindly add newsletters@creamermedia.co.za to your address book or safe sender list. If you experience any issues with the receipt of our email newsletters, please email subscriptions@creamermedia.co.za