- Eastern Platinum Limited (ELR) has dispatched 199.8 dry tons of PGM concentrates under the offtake agreement with Impala Platinum Limited
- This marks the first full month of platinum group metal (PGM) production following the completion of the reconfiguration and optimization of the small-scale PGM circuit (Circuit D)
- The company completed process upgrades to ensure consistent production of a minimum of 200 tons of PGM concentrates per month
- The company has also commissioned a life of mine design and schedule on the Zandfontein vertical shaft. Work is expected to be completed by Q3 2021
- The Retreatment Project remains in full operation and continues to produce and transport chrome and PGM end products despite the impact of COVID-19
- Eastern Platinum continues to follow the health guidelines of the Government of South Africa
- Eastern Platinum Ltd. is engaged in the mining, exploration, and development of platinum group metal (PGM) and chrome properties
- Eastern Platinum Limited (ELR) is up 10.15 per cent, trading at C$0.38 per share at 9:50 am ET
Eastern Platinum Limited (ELR) dispatched 199.8 dry tons of PGM concentrates under the offtake agreement with Impala Platinum Limited in April.
This marks the first full month of platinum group metal (PGM) production following the recent completion of the reconfiguration and optimization of the small-scale PGM circuit (Circuit D).
The company completed the process upgrades to ensure consistent production of a minimum of 200 tons of PGM concentrates per month from Circuit D. All concentrates produced reached satisfactory quality requirements under the offtake agreement.
Diana Hu, President and Chief Executive Officer of Eastplats, stated,
“Circuit D’s first full month of production is an important breakthrough for the company. It not only created a new revenue stream in addition to the company’s chrome production, but will also assist and accelerate the recommissioning of the PGM Main Circuit, which is expected to add a further 600-800 tons of PGM concentrates per month from September, a significant boost to the company’s operation and revenue growth.”
The company has also commissioned a life of mine design and schedule on the Zandfontein vertical shaft as the first step in evaluating and planning the restart of underground mining at Crocodile River Mine. The work is expected to be completed in the third quarter of 2021.
Eastern Platinum Mining owns a number of PGM and chrome assets situated on the western and eastern limbs of the Bushveld Complex, the geological environment that hosts approximately 80% of the world’s PGM-bearing ore.
Operations at the Crocodile River Mine include re-mining and processing of its tailings resources. The chrome and PGM concentrates produced from the company’s Zandfontein UG2 tailings facility (Retreatment Project) have been delivered under the respective offtake agreements.
South Africa remains at alert level 1 due to COVID-19. The company continues to follow the health guidelines of the Government of South Africa.
The Retreatment Project remains in full operation and continues to produce and transport chrome and PGM end products. The effects of COVID-19 are evolving and changing and the consequences of a further increase in the alert level in South Africa, temporary shutdown of any operations or other related issues cannot be reasonably estimated at this time, but could potentially have material adverse effects on the company’s business, operations, liquidity and cash flows.
Eastern Platinum Ltd. is engaged in the mining, exploration, and development of platinum group metal (PGM) and chrome properties located in various provinces in South Africa. The firm’s projects include Crocodile River Mine and Mareesburg.
Eastern Platinum Limited (ELR) is up 10.15 per cent, trading at C$0.38 per share at 9:50 am ET.
