Eastplats gets $100m funding

Eastern Platinum (Eastplats) reported yesterday that it had secured a $100 million (R803.5m) funding package to cover the costs of its Mareesburg project and the construction costs of the associated concentrator. The firm announced yesterday it had signed an agreement with Unicredit Bank and Standard Finance for the cash. Mareesburg is expected to be a low-cost operation that will deliver 100 000 ounces of platinum group metals a year at full production, Eastplats president and chief executive Ian Rozier said. – Dineo Matomela

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