Eastplats completes framework agreement with Union Goal
Following the fulfilment of the conditions precedent regarding the Union Goal Offshore Solution framework agreement for the Barplats Zandfontein upper group two (UG2) tailings facility, in South Africa, JSE- and TSX-listed Eastern Platinum (Eastplats) continues the construction phase of the retreatment project.
The project is expected to be completed in the third quarter of the year and will be followed immediately by commissioning.
The conditions precedent included, among other requirements, the securing of the now nonrefundable upfront payment of R42.2-million to Barplats and the signing of the offtake agreement, equipment and chrome plant agreement, an escrow agreement, as well as a loan agreement.
The agreement 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.
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