Mine Waste Solutions

Operating performance FY24

Mine Waste Solutions had a stellar year with higher than expected recovered grades and improved recovery efficiencies resulting in a 34% increase in gold production to 3 770kg (121 207oz) compared to 2 804kg (90 150oz) for the previous year. The recovered grade at 0.166g/t improved 36% over the 0.122g/t recorded for FY23. Total volumes of ore processed was marginally lower at 22.66 million tonnes (FY23: 23.07 million tonnes).

The significant increase in gold production combined with a 17% increase in the average gold price received to R986 777/kg (FY23: R845 341/kg) resulted in a sharp rise in gold revenue to R4 016 million, a 49% increase over the R2 689 million for the previous year. Cash operating costs increased 13% to R2 056 million (FY23: R1 821 million) mainly due to annual wage and electricity tariff increases as well as an increase in contractors cost, most notably security.

Capital expenditure of R1 463 million was incurred in FY24, 57% higher than the R932 million during FY23. Capital was mainly for the Kareerand expansion project as well as the 4 and 5 pump stations.

Our focus area in FY25

Our focus remains on the successful conclusion of all major projects earmarked to extend the life-of-mine of the operation and the successful fulfilment of the Franco-Nevada contract.