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Pan African offloads interest in Zim gold mine

17th November 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – Pan African Resources has completed the disposal of its interests in Auroch Minerals and the Manica gold exploration project, in Zimbabwe.

The disposal was completed through a deed of mutual settlement with Auroch, which paid Pan African A$850 000.

“Even though the total settlement amount is less than the A$2-million settlement amount previously agreed, the transaction allowed for earlier payment and further allows Pan African to focus on its core asset portfolio,” the company said in a statement on Monday.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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