Eastern Platinum Limited and its subsidiary Barplats Mines (Pty) Limited announced on March 5, 2018 they entered into an agreement with Union Goal Offshore Solution Limited which provides for the construction, mining and processing of the tailings resource, and the subsequent offtake of chrome concentrate from, the Barplats Zandfontein UG2 tailings facility (the “Retreatment Project”) located at the Crocodile River Mine in South Africa.
Operations of the Retreatment Project began in December 2018 and reached over 89% capacity in September 2019. The Project expanded to PGM recovery testing in Q2 2019 and assessments of PGM recoverability continue in late 2019.
In addition, the Company continues to actively monitor the PGM markets and other developments in the mining and minerals sector to assess the overall economics related to the addition of a PGM recovery circuit as part of the Retreatment Project or resuming active underground mining at CRM, which is currently in care and maintenance. The Company is currently updating its assessment of the Mareesburg project but is not yet completed.