Record gold output beats price weakness to nudge up earnings for Pan African

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Nigeria News News

Higher production in 2022 was due to the stellar performance of its Evander Mines’ underground operation

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...

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines