Pan African Resources coughs up to keep zama-zamas quiet
If the company had not spent so much on security its operations would have been overrun by illegal miners
Pan African Resources (https://www.sharenet.co.za/v3/quickshare.php?scode=PAN), a gold miner in Mpumalanga, has doubled spending on security to R106m to prevent illegal mining primarily at its Barberton property.
Barberton, which has been mined since 1886, is almost a Swiss cheese of holes, adits and underground workings in the hills bordering Swaziland. A decade ago there was a huge rise in illegal mining around the town where Pan African is essentially the only mining game in town.
The company has clamped down as much as it could with its internal security and the assistance of police...