Eastern Platinum revealed yesterday (12th November) that pgm production at its Crocodile River Mine (CRM) declined in the third quarter of 2009.

Output at the South African facility for the three months was 29,986 oz, compared to the figure of 30,758 oz recorded during the equivalent period last year.

However, the company noted that the performance was encouraging because production was impacted as a result of industrial action by contract workers at the site in July.

"We will continue to focus on safety and on lowering our cost structure at CRM and we are moving forward on our other projects so that they will be 'ready to go' as economic conditions continue to improve," commented CEO Ian Rozier.

Mr Rozier was also pleased that despite the strikes, run-of-mine ore only decreased by eight per cent to 280,777 tonnes on a year-on-year basis and the decline in pgm oz sold was limited to ten per cent.

The firm also revealed that head grade increased from 4g/t to 4.1g/t during the three-month period, while the average concentrator recovery rate remained at 78 per cent.

In addition, development metres, on-reef development metres and stoping units decreased by 33 per cent, 45 per cent and 29 per cent respectively from Q2 2009.

Eastern Platinum is the largest pgm producer in Canada and the sixth-largest in South Africa.

Sources:

Eastern Platinum Reports Results for the Three Months Ended September 30, 2009 (12/11/09)

Eastplats posts profit despite challenges (12/11/09)

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