Mid-tier gold producer Pan African Resources produced the most gold in its history in the 2022 financial year, helping the group achieve a slight increase in profit despite a lower gold price and higher costs.
The company’s gold production for the full-year to end-June 2022 was up 1.9% to 205,688oz. The average gold price received for the year was down 1.3% in rand terms and all-in mining costs increased 6% due to increases in labour and electricity costs, among others. However, record gold production saw its headline earnings increase by 1.2% to $75m...
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