- Eastern Platinum Limited (ELR) reports the successful commissioning of the Platinum Group Metals main plant circuit B following completion of upgrades from the spring
- The company completed the commissioning to enable processing of the full feed from chrome tails to consistently produce platinum group metal concentrates
- Eastern Platinum estimates an additional 600 tons of Platinum Group Metals concentrates per month will be added on top of the current production of 200 tons per month once production build-ups are achieved, which is project to be around Q1 2022
- It also completed a life of mine study and underground mine design for Zandfontein, the core section of the Crocodile River Mine
- Based on the results of the study, the Eastern Platinums’ board of directors’ support carrying out the Zandfontein Underground restart business plan, depending on final evaluation and funding arrangements
- Eastern Platinum Limited (ELR) is unchanged trading at $0.31 per share at 3:00 p.m. ET
Eastern Platinum Limited (ELR) reports the successful commissioning of the Platinum Group Metals main plant circuit B following the completion of upgrades.
The company completed the commissioning to enable processing of the full feed from chrome tails to consistently produce platinum group metal concentrates.
Eastern Platinum owns several Platinum Group Metals and chrome assets in the Republic of South Africa.
All of the properties are situated on the western and eastern limbs of the Bushveld Complex, the geological environment that hosts approximately 80 per cent of the world’s Platinum Group Metals-bearing ore.
Eastern Platinum estimates an additional 600 tons of Platinum Group Metals concentrates per month will be added on top of the current production of 200 tons per month once production build-ups are achieved, which is projected to be around Q1 2022.
It also completed a life of mine study and underground mine design for Zandfontein, the core section of the Crocodile River Mine.
Some of the evaluations made include a mining method trade-off study and quality reports on the life of mine scenarios.
Also included are the design and scheduling of the required underground infrastructure, the ventilation plan, the underground support systems and logistics plan, layouts, and configurations.
Based on the results of the study, the Eastern Platinums’ board of directors supports carrying out the Zandfontein Underground restart business plan, depending on final evaluation and funding arrangements.
Diana Hu, CEO and Director of Eastern Platinum, commented on this being a major milestone for the company’s revenue growth plans.
“Our global team continues to deliver on schedule under challenging circumstances,” she said.
“This circuit will also expand the Company’s future development potential, including the possibility to restart underground operations at the Crocodile River Mine to provide economic, social, and labour benefits to the community and benefit our stakeholders.”
Eastern Platinum Limited (ELR) is unchanged trading at $0.31 per share at 3:00 p.m. ET.
