Ramping Up--Pan African grows resource at Moz gold mine as it moves to double profits in next two years

摘要

AFRICA-focused precious metals producer Pan African Resources has taken the second step towards its ambition to double profits within the next two years by significantly increasing the mineral resource at its Manica gold project, in Mozambique. In addition, the company hasdeclared a reserve statement for the Phoenix platinum project, near Rustenburg, in the North West. This follows the significant increase in the mineral resource and reserve at the company's Barberton gold-mining complex, comprising the New Consort, Fairview and Royal Sheba mines, which was announced in May. The developments form part of the company's campaign to transform itself into a midtier miner, which it wants to do off the back of increased profitability rather than increased production.