Pan African Resources Plc Barberton Mines Wage Agreement

 
TIDMPAF 
 
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: [phone] 
 
Sholto Simpson                                   Ross Allister/Chris Burrows 
One Capital                                         Peel Hunt LLP 
JSE Sponsor                                      Joint Broker 
Office: + 27 (0) 11 550 5009                 Office: [phone] 
 
Julian Gwillim                                      Jeffrey Couch/Neil Haycock/ 
Thomas Rider 
Aprio Strategic Communications           BMO Capital Markets Limited 
Public & Investor Relations SA             Joint Broker 
Office: [phone]                   Office: [phone] 
 
Bobby Morse/Chris Judd 
Buchanan Communications 
Public & Investor Relations UK 
Office: [phone] 
 
www.panafricanresources.com 
 
 
 
END 
 

(END) Dow Jones Newswires

October 18, 2017 02:00 ET (06:00 GMT)