Pan African shares fall on fatality-linked mining suspension at troubled Evander shafts

February 20, 2017

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The share price of Pan African Resources fell by more than 8% in early trade on Monday after the company issued a stock exchange news service announcement of a fatality-linked 55-day mining suspension of the Evander shafts where studies recently identified critical infrastructure issues requiring remedial action, to ensure safe and sustainable operation of these shafts. The London Aim- and JSE-listed Pan African, headed by CEO Cobus Loots, stated that the nature of these refurbishments required a suspension of Evander’s underground gold mining operations for a period of up to 55 days, during which critical infrastructure issues would be addressed.

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