Eastern Platinum Limited (JSE:EPS)
Eastern Platinum Limited (JSE:ESP), or Eastplats, is a mining company based in Vancouver, Canada and listed on the TSX and JSE. Eastplats has four platinum group metals (PGM) assets in South Africa’s Bushveld Complex.
In 2018 Eastplats entered into an agreement with Union Goal Offshore Solution Limited which provides for the construction, mining and processing of the tailings resource, and the subsequent offtake of chrome concentrate from, the Barplats Zandfontein UG2 tailings facility (the “Retreatment Project”) located at the Crocodile River Mine in South Africa.
Operations of the Retreatment Project began in December 2018. The Project expanded to PGM recovery testing in Q2 2019 and assessments of PGM recoverability continued in late 2019.
In addition, Eastplats continues to actively monitor the PGM markets and other developments in the mining and minerals sector to assess the overall economics related to the addition of a PGM recovery circuit as part of the Retreatment Project or resuming active underground mining at CRM, which is currently in care and maintenance. The Kennedy Vale and Spitzkop projects also remain in care and maintenance.