https://www.engineeringnews.co.za
Africa|Mining|Platinum|PROJECT|Projects|Underground|Maintenance|Operations
Africa|Mining|Platinum|PROJECT|Projects|Underground|Maintenance|Operations
africa|mining|platinum|project|projects|underground|maintenance|operations

Eastplats raises C$7m for Zandfontein underground project

9th May 2023

By: Creamer Media Reporter

     

Font size: - +

Platinum group metals (PGMs) and chrome miner Eastern Platinum (Eastplats) has raised C$7.04-million through a rights offer.

The company in March announced that it would undertake the rights offer to help fund its growth projects, with the Zandfontein underground project being a priority.

The TSX- and JSE-listed company owns a number of PGM and chrome assets in South Africa, including the Crocodile River mine (CRM).

In its March offer circular, the company outlined plans to invest in the first capital projects to restart underground operations at the Zandfontein asset at CRM.

The Zandfontein underground operation has been on care and maintenance since 2013.

Eastplats expects to make use of the existing vertical shaft No 3 and the No 4 declines to mine mining areas from 4 Level to 12 Level.

Production at the project is expected to steadily ramp up to peak output of about 1.02-million tonnes a year. Mining is expected to start at a rate of 20 000 t a month of run-of-mine (RoM), and to eventually ramp up to 80 000 t a month RoM.

The project has an estimated life-of-mine of 22 years.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 10 May 2024
Magazine round up | 17 May 2024
17th May 2024
Photo of Martin Creamer
On-The-Air (10/05/2024)
10th May 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.32 0.379s - 162pq - 2rq
Subscribe Now