Canadian platinum miner, Eastern Platinum (Eastplats) plans to increase interests it has in all its South African projects, by buying the shares of some minority stakeholders. The firm eyes up to $13.37 million of these shares.

This was announced a few days after the company signed an agreement to sell its Barplats Mines subsidiary which owns the Crocodile River mine to the Chinese firm Hebei Zhongheng Tianda Platinum (HZT), for $50 million. While announcing the previous deal, Eastplats indicated that it would keep the assets of the Eastern branch of the Bushveld Complex, comprising the Mareesburg, Spitzkop and Kennedy’s Vale projects.

Founded in 2003, Eastplats, in less than four years, became a major platinum miner in South Africa. The firm owns in the Bushveld Complex, rhodium and platinum deposits which hold more than 85 million ounces of metals that are part of the platinum group.

Louis-Nino Kansoun