Barberton Mine Performance FY23

In 2023, Barberton Mines solidified its position in the South African gold mining sector by producing an impressive 64,586 ounces of gold. With a capacity nearing 110,000 oz/annum, our operations are not only vast but also efficient, boasting an All-In Sustaining Cost (AISC) of just $1,810 per ounce. This efficiency is driven by our team of 2,097 employees and 1,394 contractors.

Understanding the industry’s concerns about potential losses and the challenge of depleting orebodies, we’ve implemented strategies to ensure consistent and sustainable gold extraction. As we look to the future, the projected 20-year lifespan of Barberton Mines underscores our commitment to long-term growth and excellence in gold mining.

Financial Stability and Growth at Barberton Mines

Barberton Mines stands as a testament to Pan African Resources’ commitment to financial resilience and sustainable mining practices. Our prudent capital management ensures the long-term viability of operations, while our adherence to high governance standards guarantees transparency and accountability in financial reporting.

This financial stability not only contributes to the consistent performance of Barberton Mines but also supports our ongoing efforts to minimize environmental impact and foster community development.

Fairview Mine

Fairview Mine, a part of the Barberton Mines complex, stands out for its innovative BIOX® process, an environmentally friendly method of releasing gold from sulphide minerals. Operating for over 130 years, this mine is a testament to sustainable gold mining, producing approximately 80,000oz of gold annually. Fairview is making significant strides with investments being made in infrastructure like refrigeration, a grout backfill plant, and a chairlift decline to optimize operations.

Our governance practices at Fairview Mine ensure that we maintain high standards of corporate responsibility, with the board and various committees actively monitoring our sustainability performance and stakeholder engagement.

Fairview Mine Performance

In the face of challenges such as labor and energy cost increases and deepening operations, Fairview Mine has shown resilience and placed its focus on enhancing its production profile and mining at deeper levels. Strategic solutions, including transitioning to continuous shift operations in February 2023, have been implemented.

The last quarter of the financial year saw notable improvements in production, thanks to optimized mining methods and and increased availability of trackless mining machinery. For investors, the mine’s commitment to innovation, like the commissioning of an 8.75MW solar plant, signals a forward-thinking approach that balances profitability with sustainability.

Sheba Mine

Sheba Mine, with its esteemed legacy dating back to 1885, stands as one of the world’s oldest operational gold mines, representing historic value and modern innovation.

Its high recoveries are bolstered by the efficient use of the BIOX® process. The mine has also recently introduced an up-dip mining method, specifically designed to decrease dilution on the narrow orebodies that were previously mined using the cut-and-fill methodology. This strategic shift, combined with the optimization of mining methods at Sheba Mine’s MRC and ZK stopes and the increased availability of trackless mining machinery, has enhanced underground production volumes and mined grades. 

The completion of Project Dibanisa, connecting 23 Level at Sheba with 38 Level at Fairview, not only streamlines the movement of mined ore and employees between the two mines but also amplifies operational efficiency. This synergy between historical depth and modern innovation makes Sheba Mine an enticing prospect for discerning investors.

Consort Mine

Consort Mine, though faced with challenges such as the depletion of its high-grade 42 Level block and geotechnical constraints, has showcased its adaptability and forward-thinking approach. Recognizing the potential pitfalls, the mine transitioned to a contractor mining operation, a strategic move that underscores its commitment to profitability and operational excellence. 

A thorough review of its operations was undertaken, culminating in a comprehensive restructuring to bolster its underground operations. The initiation of continuous shift operations in February 2023 further exemplifies Consort Mine’s proactive stance in navigating challenges, presenting a compelling case for investors seeking a mine that is both adaptive and growth-oriented.

Barberton Mines ESG Initiatives

• Barberton Mines Commitment: Demonstrates strong ESG practices across operations, actively pursuing environmental sustainability, community development, and supporting local talent and culture through the Umjindi arts programs.
  • Environmental Sustainability: Engages in rigorous waste management, biodiversity conservation, and a shift toward renewable energy.
  • Community Development: Focuses on health, education, and job creation.

• Fairview Mine Initiatives: Emphasizes energy efficiency, waste management, safety, and community engagement.
  • Governance: Characterized by transparency, accountability, and integrity, maintained through vigilant board oversight and strict anti-corruption measures.

• Sheba Mine Approach: Adopts a proactive ESG approach, emphasizing biodiversity preservation, advanced water management, and energy reduction.
  • Community Integration: Fosters community integration through education, healthcare, and employment initiatives, governing with accountability.

• Consort Mine Efforts: Champions environmental conservation, community upliftment, and robust governance.
  • Environmental and Community Focus: Actively manages waste and emissions, and contributes to local development through various programs.
  • Ethical Conduct: Upholds high standards of ethical conduct.