Eastern Platinum confirmed yesterday (31st March) that pgm production at its Crocodile River Mine (CRM) increased by 11 per cent last year.

The company revealed that output at the facility reached 130,338 oz in 2009, compared with a figure of 117,909 oz for the previous 12-month period.

In addition, production at CRM hit 34,000 oz during the final quarter of last year, which was 17 per cent higher than the 29,015 oz recorded at the same point in 2008.

"We are pleased to end the year strongly with record quarterly production after a challenging third quarter that was disrupted by industry-wide labour action," said Chief Executive Ian Rozier.

"Despite this disruption, all aspects of our mining operations at CRM improved in 2009 compared to 2008, with increased production, increased recoveries, and operating cash costs down by 16 per cent."

Mr Rozier added that the addition of further ounces from the Crocette section in the coming 12 months should see CRM "back on track" to producing 200,000 oz per year.

CRM is located on the western limb of the platinum-rich Bushveld Complex in South Africa.

Source:

Eastern Platinum Reports Results for the Year Ended December 31, 2009 (31/03/10)

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