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Eastplats Q4 production sags on stoping suspension

29th January 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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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.

Edited by Creamer Media Reporter

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