Pilgrim’s Rest gets set for a new gold boom

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Pilgrim’s Rest is known for the annual gold-panning championships and an economy completely reliant on tourism because of the town’s mining history and heritage, while in fact it still harbours abundant gold ore reserves in an area covering 620km2.

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Pilgrim’s Rest has in recent times been known for the annual gold-panning championships and an economy completely reliant on tourism because of the town’s mining history and heritage, while in fact it still harbours abundant gold ore reserves in an area covering 620km2.

TGME project delivery director, George Jenkins, said this week that about 300 people were expected to be employed in the construction phase of the open-pit mine – where a large hole in the ground would be dug to access ore that is near to the surface.“This area never had any modern exploration operation. We’re quite excited about this opportunity and we can mine there for 40 years or even a century,” he said.

The total capital requirement for the project is $34.3 million, he said, and the company would be going to the market for at least this amount. Construction of the open-pit plant will get under way in the second half of this year, pending environmental approvals and funding. In the longer term, production will expand to 150 000 ounces per year.

The company owns 74% while the other 26% stake is held by a BEE entity that comprises the local community and black employees trust and a strategic black partner.Local councillor, Mandla Mokoena, said that the investment was already being felt in Pilgrim’s Rest and villages as businesses were beginning to boom again. “This area relied solely on tourism revenue, and the rate of unemployment has been high. There is hope again in terms of jobs and creation of small businesses,” he said.

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For God’s Sake! Heritage side been turned o to Mining?FloydShivambu

Qolobeni it's the Aussies, MP it's them. Friends of Gwede perhaps? Akukho lapho bengekho khona

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