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PAN AFRICAN RESOURCES PLC - Pan African Resources successfully concludes Barberton Mines wage negotiations

Release Date: 18/10/2017 08:00
Code(s): PAN     PDF:  
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Pan African Resources successfully concludes Barberton Mines wage negotiations

Pan African Resources PLC
(Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000)
Share code on AIM: PAF
Share code on JSE: PAN
ISIN: GB0004300496
(“Pan African Resources” or the “Company” or the “Group”)

PAN AFRICAN RESOURCES SUCCESSFULLY CONCLUDES BARBERTON MINES WAGE NEGOTIATIONS

Pan African Resources is pleased to announce that Barberton Mines Proprietary
Limited (“Barberton Mines”) has successfully concluded a one year wage
agreement with the National Union of Mineworkers (“NUM”) (“Agreement”), this
Agreement follows on from the previous two year wage agreement which concluded
on 30 June 2017. The Agreement is in addition to the three year wage agreement
(1 July 2015 – 30 June 2018) with the United Association of South Africa
(“UASA”). NUM and UASA currently represent the employees of Barberton Mines.
In terms of the Agreement, the average wage increase for all Barberton Mines
employees will amount to approximately 8% per annum, effective from 1 July
2017.

Barberton Mines experienced a 2.5 day stoppage during the negotiation period.
The stoppage is not expected to affect the Group’s production guidance of
190,000oz for the financial year ending 30 June 2018.

For further information on Pan African Resources, please visit the Company’s
website at www.panafricanresources.com


18 October 2017

Corporate Office
The Firs Office Building
1st Floor, Office 101
Cnr. Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa

Office:   + 27 (0) 11 243 2900
Facsimile: + 27 (0) 11 880 1240

Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom
Office:   + 44 (0) 20 7796 8644
Facsimile: + 44 (0) 20 7796 8645

Cobus Loots                             Deon Louw
Pan African Resources PLC               Pan African Resources PLC
Chief Executive Officer                 Financial Director
Office: + 27 (0) 11 243 2900            Office: + 27 (0) 11 243 2900

Phil Dexter                             John Prior / Paul Gillam
St James's Corporate Services Limited   Numis Securities Limited
Company Secretary                       Nominated Adviser and Joint Broker
Office: + 44 (0) 20 7796 8644           Office: +44 (0) 20 7260 1000

Sholto Simpson                          Ross Allister/Chris Burrows
One Capital                             Peel Hunt LLP
JSE Sponsor                             Joint Broker
Office: + 27 (0) 11 550 5009            Office: +44 (0) 20 7418 8900

Julian Gwillim                          Jeffrey Couch/Neil Haycock/Thomas Rider
Aprio Strategic Communications          BMO Capital Markets Limited
Public & Investor Relations SA          Joint Broker
Office: +27 (0)11 880 0037              Office: +44 (0) 20 7236 1010

Bobby Morse/Chris Judd
Buchanan Communications
Public & Investor Relations UK
Office: +44 (0) 207 466 5000


www.panafricanresources.com

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