Elikhulu Tailings Project, Phase 1

Phase 1 entails establishing facilities and infrastructure for the Kinross tailings storage facility at Pan African’s Evander mine, to re-treat gold plant tailings at a rate of one-million tonnes a month, Evander, Mpumalanga. A definitive feasibility study completed on the Elikhulu tailings project has shown the project to have excellent recovered grades and gold production, attractive financial returns and low execution risk, with the DFS results surpassing expectations of previous technical and financial assessments. The Tailings Project will be done in 3 phases. Phase 1 of the project is estimated at R1.74 billion.