Pan African Resources has laid out plans to build a R2.8bn facility that will process leftover gold mine waste in Soweto, the company said on Thursday.
The huge module will process 600,000 tonnes of residual material left over from Sowetos historic gold mines, churning out between 30,000oz and 35,000oz of bullion a year for 15 years.
Assuming a conservative 2,800/oz average gold price over the next few years, this equates to nearly 100m in extra revenue every year and a post-tax present value just shy of 130m.