Pan African Resources will spend R54m laying off nearly 1,000 employees from its Evander Gold mine after members of the National Union of Mineworkers (NUM) gave its leadership the union’s "blessing" to agree to a plan, to save the mine. The Evander mine in Mpumalanga will lay off 976 people, the NUM said on Monday. After talks with management, the NUM said the reduction in jobs at loss-making Evander in Mpumalanga would initially focus on voluntary separation packages and redeployment to other operations within Pan African, which mines gold in Barberton and coal in KwaZulu-Natal. It has a small platinum recovery operation treating tailings from a chrome mine. Pan African said it would also earmark some staff for its proposed Elikhulu tailings project at Evander to treat 1-million tonnes a month of surface material, but it needed to raise R1.7bn to start the project. The company said on Friday that it would not issue equity to fund the project. The NUM said up to 2,400 jobs were unde...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now