Eastern Platinum has officially confirmed that New Order Mining Rights have been granted to the Crocette section of the Crocodile River Mine.

The development of the mine has been initiated following the announcement from the Department of Minerals and Energy (DME) and development of the underground mine is underway.

Recent drilling on the Bushveld-based project has confirmed a grade of 4g/t platinum group elements

The project is also looking into the prospect of providing its own power.

"A commitment to provide construction power for the project has been received from Eskom but alternative guaranteed supplies are also being evaluated by Eastplats," a statement from Ian Rozier, President and Chief Executive Officer of Eastern Platinum said.

About 40,000 tonnes per month could be produced by the mine when it reaches its full production levels in 2010.

"The kick-off of Crocette marks another era of expansion of CRM and Eastplats' operations. We look forward to further increases in production levels to offset current fixed costs on the mine with significantly lower capital inputs in comparison with other deeper PGM projects on the western limb," Mr Rozier added.

Source:

Eastern Platinum Limited: Mine Construction at the Crocette Section Initiated, 07/04/08
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