Eastplats Q4 production sags on stoping suspension
TORONTO (miningweekly.com) – Vancouver-based Eastern Platinum (Eastplats) on Tuesday said its production declined by 33% quarter-on-quarter to 14 066 oz as a result of the planned temporary suspension of stoping at the Zandfontein section of its Crocodile River mine (CRM), in South Africa.
Production was down 7 207 oz quarter-on-quarter from the 21 273 oz produced in the third quarter, and down 5 788 oz year-on-year when compared with the 19 857 oz produced in the same quarter a year earlier.
The company said it expected to restart production at the Zandfontein section during 2014.
The platinum-group-metals-focused miner of South Africa’s Bushveld Igneous Complex said it was busy implementing a comprehensive mine development plan at CRM, which is expected to increase its efficiency.
Eastplats’ stocks traded at 21 Canadian cents apiece on the TSX on Tuesday morning.
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