By:Moomoo

Pengxin International Mining (600490.SH) on September 8th, announced that its holding subsidiary, CAPM Tau Mine Proprietary Limited, plans to invest 55 million South African Rand in the West Gold Plant (Pty) Ltd recovery project. The total investment is approximately 21.96 million yuan (calculated at the South African Rand exchange rate of 0.3992 on September 3, 2024).

The West Gold Plant is located near the CAPM-7 wellhead in South Africa. It used to be a processing plant for the company and nearby gold ore production. According to its historical production data, its process and recovery rates are ideal. This resumption of production only involves repairing some equipment in the production process and does not involve changing the production process. The plant has an annual processing capacity of approximately 1.9 million tons of ore, which meets the company's current production plan requirements. After the plant resumes production, the company plans to consider processing ore from other companies in the surrounding area.