https://www.miningweekly.com

Investec to finance Zandfontein underground restart at Eastplats’ CRM

22nd September 2022

By: Darren Parker

Deputy Editor Online

     

Font size: - +

Platinum group metals (PGMs) miner Eastern Platinum (Eastplats) has signed a finance facility agreement with banking and wealth management group Investec Bank, which will be used for working capital purposes and funding the restart of the Zandfontein underground section of its flagship Crocodile River mine (CRM), located near Brits in the North West.

The finance facility features a renewable 12-month revolving commodity finance facility secured by production from the tailings storage facility at CRM.

Indicative rate on financing is a three-month Johannesburg interbank average rate plus 150 basis points. The interest rate is subject to the credit quality of the PGM offtaker on a yearly basis.

There will be an immediate payout to the company on the PGMs concentrate delivery date.

The maximum size of the credit facility is R150-million, with guaranteed prices through a fixed-price swap hedge overlay on platinum, palladium, rhodium and gold.

“We look forward to working with Investec as we restart the Zandfontein underground section and develop our eastern limb projects. This facility is a result of the hard work of our respective teams over the past several months,” Eastplats CEO Wanjin Yang said on September 22.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sweet-Orr
Sweet-Orr

Sweet-Orr, established in 1871, is a global leader in superior protective workwear, known for quality, innovation, and performance.

VISIT SHOWROOM 
Lilak Aluminium
Lilak Aluminium

For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 25 September 2026
Magazine round up | 25 September 2026
25th September 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

➕

➕

➕

➕

➕

RESEARCH CHANNEL AFRICA

SUBSCRIBE

➕

➕

➕

➕

➕

➕

➕

➕

➕

➕

CORPORATE PACKAGES

CLICK FOR A QUOTATION

➕

➕







sq:0.051 0.076s - 111pq - 2rq
Subscribe Now