PAN AFRICAN RESOURCES ANTICIPATES 70% RENEWABLE ENERGY PENETRATION TO SECURE COST STABILITY AND DECARBONISATION
Cape Town, 9 February 2026
Following the announcement of its second renewable energy supply agreement with energy aggregator and trader NOA Group Trading (“NOA”), Pan African Resources (“Pan African” or the “Company” or the “Group”) has confirmed substantial cost savings and long-term energy supply stability, unlocking operational efficiencies and achieving an anticipated renewable energy penetration of 70% of the Group’s total electricity load.
Following its announcement in August 2025, Pan African, a dual JSE- and LSE-listed gold producer with operations in South Africa and Australia, has secured an additional renewable energy allocation to deliver a total allocation of approximately 389 GWh per annum.
The energy supply agreement delivers a substantial portion of the Group’s total electricity requirements and is expected to deliver significant savings. The Company’s Barberton Mines, Evander Mines and Mogale Tailings Retreatment (MTR) operations, located in Mpumalanga and Gauteng, will be directly supplied under the agreement.
“In a sector where energy risk directly impacts cost, competitiveness and operational continuity, Pan African required a solution that supports both our current needs and our longer-term growth and decarbonisation objectives. NOA worked closely with our team to develop a flexible solution and conclude this agreement in just one month. Their ability to move quickly without compromising quality makes them the right partner to deliver renewable energy at scale,” said Cobus Loots, CEO of Pan African Resources.
The transaction includes the provision of verified International Renewable Energy Certificates (I-RECs), enabling Pan African to accelerate its decarbonisation strategy and report tangible emissions reductions.
The solution is also designed to enhance cost control and protect margins in a sector that is both energy-intensive and highly sensitive to electricity price volatility and supply risk.
“For large energy users competing in global markets, access to competitively priced, reliable energy is fundamental to long-term sustainability. In gold mining, electricity is a major operating cost and a key driver of margin pressure. Competitive electricity pricing is therefore essential to managing our all-in sustaining costs and maintaining global competitiveness as a South African producer. This renewable energy supply agreement strengthens our cost stability, supports decarbonisation and reduces our exposure to ongoing tariff volatility,” added Loots.
NOA has secured several major energy supply agreements within the mining sector in the last 12 months, reflecting growing demand for reliable, cost-effective renewable energy solutions as the industry transitions toward lower-carbon operations.
“With an estimated 16GW of renewable energy initiatives underway in South Africa’s mining sector, the focus is increasingly on execution rather than intent,” said Karel Cornelissen, CEO of NOA Group. “This agreement reflects a pragmatic approach – delivering a scalable, bankable solution while supporting Pan African’s decarbonisation obligations.”
Cornelissen concluded, saying, “Our solution design is informed by granular consumption data and planned operational expansions, ensuring a purpose-built renewable energy solution that evolves alongside the business and aligns with operational demand.”
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BOILERPLATE:
NOA is an integrated energy utility that provides bespoke renewable energy solutions to customers in the commercial and industrial sectors, partnering with customers to meet their net zero ambitions, while saving on energy costs. NOA develops, constructs and operates large-scale wind, solar and battery energy storage facilities and has developed a comprehensive and innovative range of fully financed, grid-wheeled solutions for its customers. The company is also an aggregator, actively buying electrons from Independent Power Producers across South Africa, enabling faster and more efficient delivery of renewable energy to customers.
