Maputo, Mozambique, 6 Aug – South African mining company Pan African gives assurances that there is gold in Mozambique’s Manica province

Jonathan Irons said that as well as strong signs of the occurrence of gold, Manica had power and water, two vital resources for gold mining and processing.

Pan African is finalising an economic feasibility study for development of at least one mine and construction of its respective processing factory.

Irons said that after the feasibility study had been finished, Pan African would develop the mine and start mining and processing gold in Manica by the end of next year.

Given the high level of investment required to set up the facility (over US$80 million), Pan African is in negotiations to set up a consortium with delta Trading – a company which also has mining interests in Manica province.

Pan African presented a project to the Mozambican government, in which it said it wanted to mine around 16,000 hectares in Manica province, where it planned to open three gold mines, known as “Fair Bride”, “Dot’s Luck” and “Guy Fawkes.”

Delta Trading recently concluded a feasibility study for the Monac gold mine, which was granted to it for exploration, and had concluded that the mine could produce over 200 kilos of gold per year. (macauhub)