JOHANNESBURG - PAN AFRICAN Resources has announced plans to invest R140 million towards the construction of a 9.975MW solar power plant at its Evander Mines in Mpumalanga to reduce reliance on Eskom.
The junior JSE and London-listed gold company said on Tuesday that it had entered into an engineering, procurement and construction agreement with juwi South Africa, a subsidiary of the German-headquartered juwi group, for the project.
The group said it expected construction to commence in the first quarter of 2021, with first power expected in the third calendar quarter of 2021.
Chief executive Cobus Loots said that the Evander Mines solar photovoltaic plant was integral to the group’s purpose of “Mining for a Future” and pursuing environmental, social and corporate governance initiatives that go beyond compliance.
“This plant will be one of the first of its kind in the South African mining space. We look forward to commissioning the operation during 2021, on budget and on schedule,” said Loots.
The group said that the Evander Mines solar photovoltaic plant would utilise bi-facial module technology to maximise its yield and it would be constructed on previously disturbed land owned by Evander Mines.
It said the solar photovoltaic plant was likely to provide an estimated 30 percent of Elikhulu’s power requirement during daylight hours.
The group said it would also enhance the reliability of the power supply during daylight hours and result in an expected carbon oxide saving of more than 26 000 tons in its first year of its operation.
“This solar photovoltaic plant further reduces Elikhulu’s environmental impact and is just one of a number of initiatives in the group’s commitment to producing high-margin ounces in a safe and efficient manner, while investing in local communities and minimising the environmental impact of operations,” said Loots.
Pan African said it was assessing the merits of expanding the Evander Mines solar photovoltaic plant in due course to provide for a clean energy feed to its Egoli Project, and of a similar solar photovoltaic plant at the Group’s Barberton Mines.
Pan African Resources shares rose 2.75 percent on the JSE on Tuesday to close at R4.48.
BUSINESS REPORT