LONDON (ShareCast) - (Sharecast News) - Pan African Resources said on Thursday that South Africa's Department of Mineral Resources and Energy (DMRE) has granted the renewal of its Barberton mining rights for a period of 30 years.
The AIM-traded firm said official notification of the grant, in terms of section 24 of the Mineral and Petroleum Resources Development Act 2002, was received on 1 June.

It said the notification comprised renewals of the mining rights for the Fairview, New Consort and Sheba mines, which are all of Pan African's Barberton mining rights.

The renewal applications submitted by the company included detailed technical reports and mine works programmes that supported mining at the Barberton operations for the 30-year renewal period.

"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," said chief executive officer Cobus Loots.

"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 improve the lives of our stakeholders and the economic sustainability of the region."

At 1016 BST, shares in Pan African Resources were down 1.94% at 21.28p.

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