(Alliance News) - London and Johannesburg-listed miner Pan African Resources PLC on Friday said it is on track to meet its full-year production guidance and reported a first-half rise in gold sales.
In the six months to December 31, gold sales from its South African projects rose by 15% year-on-year to 92,941 ounces from 81,014 ounces.
Output from its Elikhulu tailings retreatment plant nearly doubled to 29,301 ounces from 15,292oz the year prior, despite the asset being hampered by heavy rain during December.
Barberton, in the Mpumalanga province, had a 6.3% production fall to 47,356 ounces from 50,556 ounces.
The mine's output was hurt by community unrest, Pan African said in July.
The company reported it lost a number of production days due to roadways being blocked and mine property being destroyed by protestors. The company said the protestors are seeking employment and commercial concessions from the mine.
"These protests are unrelated to normal industrial action and are initiated and supported by politicians and criminals who believe that extortion by means of violence is a legitimate social objective. The mine has been supported by the South African Police's Public Order Policing Division to control these protests, protect Pan African's employees and preserve its assets," Pan African said in July.
The company said on Friday that it pursuing legal action against the "instigators involved in this unrest".
At Evander, production increased by 7.4% to 16,284 ounces from 15,166 ounces the year before.
For the full-year, Pan African said it is on track to meet its production guidance of 185,000 ounces.
The company will report its half-year results on February 18.
Shares in the company were flat at ZAR2.25 in Johannesburg on Friday morning. They were 2.5% higher at 12.20 pence each in early dealings in London.
By Eric Cunha; ericcunha@alliancenews.com
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Pan African (PAF)