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Africa|Efficiency|Financial|Platinum|PROJECT|Resources|Underground
Africa|Efficiency|Financial|Platinum|PROJECT|Resources|Underground
africa|efficiency|financial|platinum|project|resources|underground

Eastplats reports record revenue for 2023 financial year

6th May 2024

By: Creamer Media Reporter

     

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JSE- and TSX-V-listed Eastern Platinum (Eastplats) has reported net income attributable to shareholders of $13.8-million for the 2023 financial year, compared with a loss of $900 000 for the 2022 financial year, mainly as a result of higher revenue.

Revenue increased to a record $106.9-million, compared with revenue of $53.9-million in the prior financial year.

The company’s activities include the remining and processing of tailings resources at the Crocodile River mine (CRM), in South Africa, to produce chrome concentrate and platinum group metal concentrate.

“We are proud of the results that our chrome and PGM businesses have achieved. The team continues to work hard as the retreatment project comes to an end, turning its focus to ramping up underground tonnages in the Zandfontein underground section at the CRM.

“Eastplats remains committed to continuing its operational and cost efficiency initiatives, while being mindful of PGM market price movements,” comments Eastplats president and CEO Wanjin Yang.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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