Eastern Platinum improves 2019 results

Owning all of its mining assets in South Africa, Canadian company Eastern Platinum (Eastplats) published on Friday, March 27, significantly improved financial results for 2019. Specializing in the exploitation of platinum and chromium, the company significantly reduced its losses during the past fiscal year, from $21.8 million in 2018 to $0.1 million in 2019. A significant improvement that Eastplats’ management has attributed to the first full year of operation of the Crocodile River mine tailings reprocessing project, where the company produced a record 598 tonnes of 38.6% chromium concentrate in 2019. Eastern Platinum stated that its current cash flow is sufficient to cover all of its projected operating expenses for 2020.