TORONTO (miningweekly.com) – Shares in Eastern Platinum were 4% higher on Tuesday morning, after the company said it had restarted full mining operations at the Crocodile River mine in South Africa.

Eastplats said on May 11 that operations had been affected and some damage sustained at its flagship Crocodile River mine in South Africa, after employee protests linked to ongoing wage negotiations.

The company has now signed a new two-year wage agreement with the National Union of Mineworkers, and all employees, other than 155 workers who face disciplinary action as a result of the protests, were back at work on Friday.

Eastplats said second-quarter production will be around 7 000 oz lower as a result of the disruptions, but that the union has agreed with management to try make up the shortfall over the balance of the year.

The new wage agreement will result in an effective cost increase to the company of about 10%, with effect from March 1.

Eastplats shares were up C$0,04, at C$1,00 apiece, by 10:31 in Toronto. The stock traded as high as C$1,07 earlier in the day.

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