Eastern Platinum is aiming to produce over 530,000 oz of platinum group metals (PGM) every year until 2012.

The platinum producer will increase its anticipated production from 128,500 oz in 2008 to 530,000 oz in 2012 by opening four new mining operations.

Operations at Crocette, Mareesburg, Spitskop UG2 and Spitskop Merensky, as well as a new concentrator plant at Spitskop/Kennedy's Vale will increase production.

The firm will increase production to 220,000 oz in 2010 at the Crocodile River Mine while production at the Spitskop project will reach 205,000 oz per year by 2012.

In addition, production at the Mareesburg project will reach 105,000 oz in 2012.

Ian Rozier, President and Chief Executive Officer of Eastern Platinum, said that he was pleased to announce the increases in current market conditions.

"We are acquiring heavy fuel oil generating capacity that will enable us to meet the initial power requirements independently," he explained.

The firm also announced that it has received New Order Mining Rights for the Zandflontein and Marolabult Sections.

Source:

Eastplats Planning to Produce Over 530,000 Oz of PGM Per Year Within Four Years: Additional New Order Mining Rights Granted at CRM, 26/06/08
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