Eastern Platinum's production output for its Crocodile River mine in South Africa was 25,387 oz in the three months to the end of March, marking a 7,365 oz reduction compared with the previous quarter.

Ian Rozier, president and chief executive officer of Eastern Platinum, said a comprehensive internal safety review carried out earlier in the quarter combined with the "traditional slow start in January" was responsible for the decline in output.

"We are confident that the impact of this is short term and that production will return to anticipated levels," said Mr Rozier.

"Development at Crocette is progressing, and in the Eastern Limb we anticipate awarding contracts for construction for Mareesburg shortly."

The company will post its full first quarter results on May 11th.

In February, Eastern Platinum announced that it had received formal letters of commitment to underwrite a $100 million (£61.4 million) financing package to fund the development costs of the Mareesburg Project.

Sources:



Eastplats output falls in first quarter (18/04/11)
 

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