Successful conclusion of 2015 wage negotiations

Pan African Resources PLC
"Pan African Resources" or the "Group"
(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 SUCCESSFULLY CONCLUDES 2015 WAGE NEGOTIATIONS

Pan African Resources shareholders are hereby informed that the Group has successfully concluded wage negotiations at its gold mining operations and entered into multi-year agreements with the unions representing its employees.  Details of these agreements are as follows:
 

Barberton Mines (Proprietary) Limited (“Barberton Mines”)

Barberton Mines has concluded a two-year agreement with the National Union of Mineworkers ("NUM") and the United Association of South Africa ("UASA") on wages and other conditions of employment for employees at the operation.

The average Barberton Mines salary and wage bill increase for the two financial years ending 30 June 2016 and 2017 will amount to approximately 9% per annum, effective from 1 July 2015.

Evander Gold Mining (Proprietary) Limited (“Evander Mines”)

Evander Mines, under the auspices of the Chamber of Mines, has concluded a three-year agreement with the NUM and the UASA on wages and other conditions of employment for employees at the operation.

The average Evander Mines salary and wage bill increase for the three financial years ending 30 June 2016, 2017 and 2018 will amount to approximately 7.8% per annum, effective from               1 July 2015.

CEO of Pan African Resources, Cobus Loots commented: "We are pleased that multi-year wage agreements are now in place at our gold mining operations. These agreements provide certainty to all Pan African Resources stakeholders and enable our employees to focus on delivering on our production targets."

13 October 2015
Johannesburg

CONTACT INFORMATION

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) 207 796 8644
Facsimile: + 44 (0) 207 796 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 / James Black
St James's Corporate Services Limited	Numis Securities Limited
Company Secretary	Nominated Adviser & Joint Broker
Office: + 44 (0)207 796 8644	Office: [phone]
Sholto Simpson	Matthew Armitt / Ross Allister
One Capital	Peel Hunt LLP
JSE Sponsor	Joint Broker
Office: + 27 (0)11 550 5009	Office: [phone]
Julian Gwillim	Daniel Thöle
Aprio Strategic Communications	Bell Pottinger PR
Public & Investor Relations SA	Public & Investor Relations UK
Office: [phone]	Office: + 44 (0)203 772 2500

www.panafricanresources.com