(Alliance News) - Pan African Resources PLC on Thursday announced that the mining rights for its Barberton gold mine complex in Mpumalanga has been renewed by the South African Department of Mineral Resources & Energy.
The Africa-focused gold producer said the renewal applications submitted by the company included detailed technical reports and mine works programmes that support mining at the Barberton operations for the 30-year renewal period.
Chief Executive Cobus Loots said: "Our exploration and mining teams at Barberton have made exceptional progress over the past years, applying modern exploration, development and mining techniques to increase underground gold production and the lives of our mining operations. We view the granting of the mining right renewals by the DMRE for a 30-year period as an endorsement of our efforts and operations.
"As one of the largest employers in the Barberton area, Pan African has invested significantly in, and will continue to invest in community and ESG initiatives, including community infrastructure and large scale agriculture projects that improves the lives of our stakeholders and the economic sustainability of the region."
Shares in the company were down 4.3% at ZAR4.00 each in Johannesburg, and were down 2.9% at 21.07 pence each in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Pan African (PAF)