Eland Platinum has announced the conclusion of an offtake agreement with Anglo Platinum subsidiary, Rustenburg Platinum Mines.

The offtake agreement is for the platinum group metal (pgm) concentrate produced by the Elandsfontein platinum mine.

Eland Platinum announced that the amount is for the original area of the mine and will not include the new adjacent properties recently acquired by the company. it was also made clear that the deal will no longer be for the entire life of the mine, as previously stated, but instead would be for an undisclosed amount of concentrate or a defined period of time, whichever was earlier.

The company is also understood to be considering establishing its own smelter and refining capabilities as Managing Director, Martin Salter, told Mining Weekly that he has not ruled out such a development.

Sources:

Eland inks offtake agreement with Anglo Platinum, 7/06/07
http://www.miningweekly.co.za/article.php?a_id=110606

Eland Platinum to reach 1m ounce production target by 2015 with Madibeng acquisition, 7/06/07
http://www.mineweb.net/mineweb/view/mineweb/en/page35?oid=21945&sn=Detail

Ÿ Adfero Ltd