By: Creamer media

This compares with the PIC's previous shareholding of 12.88% of Pan African's shares.

This follows after the PIC, in March, increased its shareholding in Pan African above 12%, from the 9.98% it had previously owned.

Pan African owns and operates a portfolio of high-quality, low-cost operations in South Africa and has a production capacity of more than 200 000 oz/y of gold.

In addition to its underground gold mining operations, it has successfully established tailings retreatment facilities in South Africa, including the Mogale, Barberton and Elikhulu tailings retreatment plants.

Mining Weekly reported in June that the gold miner had also delivered, on time and within budget, a tailings retreatment facility at the Tennant Mines, in Australia's Northern Territory. The facility, which is the only such plant in the region, is expected to produce between 46 000 oz and 50 000 oz of gold for the 2026 financial year.