Eastplats commissions PGM processing plant in South Africa [Yahoo! Finance]
IMPALA PLATINUM HLDGS ADR (IMPUY)
NASDAQ:AMEX Investor Relations:
implats.co.za/results-and-presentations.php
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Source: Yahoo! Finance
The facility, which processes ROM) UG2 ore from the Zandfontein underground operations, is set to ramp up production over the next two years. The company has already processed approximately 22,000 tonnes (t) of ROM ore in September 2024, yielding a concentrate with around 1,300oz of PGM 6E metals. This concentrate was delivered to Impala Platinum under an existing offtake agreement. In October, Eastplats expects to process 30,000t of ROM ore, which is expected to produce between 2,000 and 2,500oz of PGM 6E metals. By the end of 2024, Eastplats' Zandfontein underground operations are on track to produce 40,000t of ROM ore per month. It plans to increase production to 70,000t per month by the end of 2025. In addition to PGMs, the processing of ROM UG2 ore has resulted in the production of metallurgical chrome concentrates as a by-product. While Eastplats will continue to recover chrome from historical tailings at the CRM, this project is expected to wind down in early 2025.
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