The Star Late Edition

Eastplats reports its first full month of Circuit D production


TORONTO and JSE-listed Eastern Platinum (Eastplats) yesterday reported the first full month of production following the revamp of its small-scale platinum group metals (PGM) circuit known as Circuit D.

Eastplats president and chief executive Diana Hu said yesterday that Circuit D’s first full month of production was 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 to 800 tons of PGM concentrat­es per month from September, a significan­t boost to the company’s operation and revenue growth,” Hu said.

Eastplats, which sells concentrat­e to Impala Platinum, said it had dispatched 199.8 dry tons of (PGM) concentrat­es containing 490.9 ounces of PGMs under the offtake agreement with Impala, within the production month of April 2021.

Eastplats completed the process upgrades to ensure a consistent production of a minimum of 200 tons of PGM concentrat­es per month from Circuit D.

The group said all concentrat­es produced reached the satisfacto­ry quality requiremen­ts under the offtake agreement. It also said it had 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,” said the group.

Eastplats shares closed 2.95 percent lower at R4.61 on the JSE yesterday.

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