The North and South Division of PSGM are situated in area surrounding the town of Welkom and is approximately three hours drive from the city of Johannesburg. Welkom is accessible by road, rail or air. The main road structure to and around the mine are in good condition; the North Division is easily accessible via the R30 main road and the South Division can be accessed via the R34 main road through the town of Welkom.

The main electric railway line in this area is the Bloemfontein via Virginia to Johannesburg line and an airport and 13 airstrips are situated in the area.

Power is supplied by ESKOM and Sedibeng Water supplies water mainly from the Vaal River. Sedibeng Water is a State-owned company which was opened in 1979.

The Free State experiences a continental climate, characterised by warm to hot summers and cool to cold winters. Areas in the east can experience snowfalls in the winter months, whereas the western areas are prone to extremely hot summers. The area receives summer rainfall. The climatic conditions are not excessively extreme, and mining operations can continue throughout the year.

The surface topography of the area surrounding Welkom is characterised by gently undulating plains. The mine is situated at an elevation between 1 000m above sea level (“asl”) and 1 500masl.

The company Johnnies (which later became JCI) registered two separate mining companies on 11 July 1947. These were the Freddies North Lease (presently known as North Division) and the Freddies South Lease (presently known as South Division). These companies, collectively, known as Freddies Division, were sold in 1964 to Free State Geduld and Western Holdings.

In 1986 Free State Consolidated Gold Mines Ltd (“Freegold”) was created. This was due to shareholder approval to consolidate mining operations previously conducted by President Steyn, Free State Geduld Mines Ltd (including Freddies Division), President Brand Gold Mining Co Ltd and Western Holdings Ltd.

In 1990 several shafts were put on the market due to underperformance caused by the change in production plan by the Freegold.

In 1997 the disused Freddies 9 Gold Plant was acquired by Mr Nico van Tonder. The profit from the salvage value of this plant then allowed him to purchase the Loraine 3# (presently known as Steyn 3#) from Avgold in February 1998.

Also in 1998, Mr Gert Jordaan purchased the Freddies 7# and 9# (presently known as Steyn 7# and 9#) and President Steyn 1# and 2# from Freegold. In October 1998 the President Steyn Gold Mine (Free State) (Pty) Ltd was formed after purchasing these shafts from Mr Gert Jordaan.

PSGM was owned by three businessmen in 1999, namely Mac van der Merwe (55% of share), Nico van Tonder (45% of share) and Davide Parodi (an option to acquire 10% of share from Mac van der Merwe). Thistle Mining Inc, an international company with interests in the Philippines and South Africa, purchased the mine in 2002.