Pan African Resources taps ASX for its Australian gold ambitions
- Mon 27 July 2026
- 6 MIN READ
With an investor base that inherently understands resources, a growing group of global gold companies such as Pan African Resources are listing on ASX.
ASX's Sasha Conoplia with Pan African Executive Director and CEO, Cobus Loots.
Tennant Creek has been Australia’s geographic and metaphoric heart since the 1930s’ gold rush and its name is synonymous with the precious metal. The Northern Territory town is also now at the centre of ASX-listed global gold miner Pan African Resources' Australian ambitions. Pan African (ASX:PAF) was admitted to ASX as a foreign exempt listing in June.
While it was already listed on the Johannesburg Stock Exchange and the London Stock Exchange, Australia's world leading mining markets attracted Pan African to list on the ASX with a market cap of A$4 billion.
"ASX is probably the most buoyant exchange for mining in the world. The investor base understands mining, they understand gold mining and we have a lot to offer ASX investors, being a top 10 market cap company listed in Australia from a gold perspective. We have huge growth prospects, which differentiate the company, as does our very-consistent dividend payments," says Pan African Executive Director and CEO, Cobus Loots, who was in the country recently to talk to investors.
"ASX is probably the most buoyant exchange for mining in the world."
“The ASX listing enhances our profile in Australia and also provides currency for us to grow. If you want to grow in Australia, you need to offer Australian currency.”
Becoming global
Tennant Creek Mine plant.
Pan African entered the Tennant Creek gold fields in 2024 after it bought the gold and copper-focused Tennant Consolidated Mining Group (TCMG). This gave Pan African a 75% stake in a joint venture at Tennant Creek, with local explorer Emmerson Resources holding the option for the remaining 25%. This year, Pan African acquired Emmerson, consolidating full ownership of the project and helping drive the reboot of Northern Territory gold mining after a 20-year hiatus. Tennant Creek is Pan African’s first operational move outside South Africa.
“We started doing due diligence on TCMG in 2023 and this always begins with geology. Our geologists looked at the Tennant Creek goldfield and, at the time, only smaller deposits had been identified. But our view was that there was potential for very sizeable new discoveries,” says Loots.
The expansion of the White Devil orebody, one of Australia's highest-graded open pit gold deposits, led to Pan African's acquisition of Emmerson Resources. Following the initial deal with TCMG, Pan African reopened the Nobles mine in the Barkly region, and built a $94 million processing facility, the only one in the region and with an initial capacity to produce 50,000 ounces of gold annually, with potential to reach 100,000 ounces.
"Having worked with Emmerson for some time, we had the opportunity to combine the businesses, which was a win-win for both companies' shareholders," says Loots.
These transactions are the first steps for Pan African’s longer journey in Australia, with its Tennant Creek assets a good fit with its African business.
The first dig at White Devil.
"We scoured the world for gold opportunities, and we are incredibly excited about Tennant Creek."
“We scoured the world for gold opportunities, and we are incredibly excited about Tennant Creek. The plant we've built there is three times bigger than anything that's ever operated there. It’s also the first time modern exploration techniques have been applied to the gold field. Less than 10% has been drilled to below 150 metres. That doesn't even speak to the copper asset, the next phase of our strategy,” Loots adds.
Pan African has established a track record of building up assets and creating shareholder value. It was first incorporated in 2000 as an exploration-focused company and later restructured to concentrate on African precious metals.
In 2007, the dual listing of the company in London and Johannesburg following the acquisition of a majority stake in South Africa’s Barberton Mines transformed the business from an explorer into a producer, with mining operations dating back to the 1880s brought into the portfolio. Further acquisitions include South Africa’s Evander Gold Mines in 2009 and the Mogale Gold/Mintails SA Soweto Cluster in 2021.
Back in Australia, the Northern Territory government’s support has been a soft landing.
“The royalty regime is now investor friendly and there is a real focus from government on assisting businesses to achieve their objectives. It's the most welcoming place we've found,” Loots says.
ASX listing is just the beginning
The Pan African Resources team around the bell at Exchange Place.
Australian investors can expect to hear more from Pan African.
“We're committed to this market. We are spending time getting to know the investor base and building trust and an understanding of the company over time,” says Loots.
The strong gold price means the future looks especially interesting.
“We have lifted production 40% in the last year and we'll continue to maintain and improve margins. It's an exciting time. The gold price allows for fantastic margins and really good returns and is a chance to continue growing,” he says.
More on mining at ASX:
- Learn about how global miners rely on ASX launch pad
- Read about how global miners flock to ASX for dual listings
- See why ASX is a global leader in metals and mining
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