Following the announcement of its second renewable energy supply agreement with energy aggregator and trader NOA Group Trading (NOA), Pan African Resources (Pan African, the company or the group) anticipates further substantial cost savings and long-term energy supply stability, unlocking operational efficiencies. This latest agreement will facilitate renewable energy penetration of potentially 70% of the group’s total electricity load.
NOA Group Trading and listed gold producer, Pan African Resources, have signed a further renewable energy supply agreement.
Subsequent to the initial agreement announced 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 an overall total allocation of around 389 GWh per annum.
The energy supply agreement meets 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 supplied directly under the agreement.
“In a sector where energy risk impacts cost, competitiveness and operational continuity, Pan African required a solution that supports 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 for the company, operating in a sector that is 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,” Loots added.
NOA has secured several major energy supply agreements in the mining sector in the last 12 months, reflecting growing demand for reliable, cost-effective renewable energy solutions as the industry transitions towards lower-carbon operations.
“With an estimated 16 GW of renewable energy initiatives under way 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 and supporting Pan African’s decarbonisation obligations.”
Cornelissen said, “Our solution design is informed by granular consumption data and planned operational expansions, to ensure a purpose-built renewable energy solution that evolves alongside the business and aligns with operational demand.”
For more information visit: https://noagroup.africa/
