South African West Gold Plant(WGP) CAPM

Officially Launched

Recently,Pengxin Mining South African WGP CAPM successfully held the launch ceremony in the Orkney area (North West Province, South Africa). Mr. Jiang Zhaobai,Chairman of the Strategy and Decision Committee of Pengxin Group, the controlling share holder of Pengxin Mining, Mr. Li Xuecai, Assistant to the Chairman of Pengxin Mining and Chairman of CAPM, and the Chinese and foreign management teams of CAPM attended the ceremony.

Mr.Gwede Mantashe, National Chairman of the ruling party ANC and Minister of Mineral Resources and Petroleum, Mr. Nono Maloyi, Chairman of the ANC in the North West Province, Mr. Lazarus Mokgosi, Premier of the North West Province,Mr. Fikile Mahlophe, Mayor of Matlosana, Mr. Alderman Raymond Mampe, Director of the Regional Economic Development Department, and Mr. Xolani Mndaweni,District Mayor of Orkney, attended the launch ceremony as invited guests.

Before the ceremony, Mr. Li Xuecai provided an introduction to the WGP plant to Minister Gwede Mantashe, Chairman Jiang Zhaobai, and their accompanying delegation.

The WGP  is located near the CAPM-7 shaft in South Africa and has historically served as a processing facility for the company and surrounding gold-producingores. Based on historical production data, its processes and recovery rates are quite favorable. The resumption of production this time is focused solely on repairing some of the equipment within the production process, without any changes to the production process itself. The plant has an annual oreprocessing capacity of approximately 1.9 million tons, which meets the company's current production plan requirements. The company also plans to consider processing ores from other companies in the surrounding area that require processing once the WGP resumes production.

The ceremony was presided over by Mr. Adolphus Munyai, the foreign General Manager of the CAPM Shared Services Center. At the beginning of the event, Mr. Adolphus provided an introduction of the guests and delivered a welcome speech. Mr. Wang Anfu, General Manager of the CAPM Shared Services Center, gave the opening address. Mr. Gerrie, COO of CAPM, delivered the ceremonial speech.

Mr.Li Xuecai expressed his heartfelt gratitude to all the distinguished guests for their presence and support, and delivered a significant speech. He stated that the launch of WGP marks a joyous and solemn moment, signifying not only the official entry of WGP into a new phase of production and operation but also the  beginning of a new chapter in the history of Pengxin Mining's corporate development. The successful launch of WGP is a testament to the wisdom and hard work of the South African team, showcasing their spirit of fearlessness in the face of difficulties and their determination to forge ahead. The plant is now just one step away from gold production, and similarly, just one step away from realizing Pengxin Mining's dream of gold. In 2024, WGP is poised to achieve its gold production targets! The South African project will undoubtedly contribute to even more brilliant achievements for Pengxin Mining.

Minister Gwede Mantashe delivered a key speech at the launch ceremony. He stated that South Africa, as a world-renowned mining powerhouse, is endowed with abundant mineral resources and a comprehensive mining legal system. He himself has been committed to promoting the prosperous development of South Africa's mining industry and the sustained growth of the South African economy. On behalf of the South African Department of Mineral Resources, he extended his warmest congratulations and sincerest gratitude for the successful launch of WGP, and looked forward to further deepening cooperation between the two parties to jointly promote the high-quality development of South Africa's mining industry and contribute to the economic development of South Africa.

The WGP launch ceremony came to a successful conclusion with Minister Gwede Mantashe, Mr. Jiang Zhaobai, and Mr. Li Xuecai cutting the ribbon to mark the official start of the project.

Smooth Production

Formal Gold Production

With the steady progress of all WGP operations, the key equipment on the production line has been commissioned, and the overall performance of the equipment hasmet the standards required for resumption of production.

On December 18th (local time in South Africa), the repaired production line of WGP has officially started production and has yielded qualified gold. The expected production capacity after the start-up is 70,000 tons per month. After resuming production, WGP will gradually process the mined ore from the Tau mine and P1 mining area.

The resumption of production at WGP holds milestone significance for the company's operational status and future development. CAPM will form a complete industry chain from ore mining, beneficiation processing, to gold sales, aligning with the company's strategy for the Orkney Gold Mine in South Africa, which is characterized by "unified planning, large-scale mining, phased implementation, and overlapping progress."

The official gold production of Pengxin Mining's South African CAPM project signifies a crucial and robust step in the company's overseas resource deployment. It injects a strong and dynamic impetus into the company's sustained high-quality development, leading to a comprehensive enhancement of the company's overall development capabilities!