| Mon 8 Oct 2007, 9:31 | | ELD - Eland Platinum - Eland Platinum Commissions |
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ELD
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ELD - Eland Platinum - Eland Platinum Commissions Mine Safely And On Schedule
Eland Platinum Holdings Limited
(formerly Nungu Trading 500 Limited)
(Incorporated in South Africa)
(Registration number 2005/029957/06)
(JSE code: ELD ISIN: ZAE 000078655)
(`Eland Platinum` or `the Company`)
ELAND PLATINUM COMMISSIONS MINE SAFELY AND ON SCHEDULE
Eland Platinum Holdings Limited (Eland Platinum) today celebrated the first
production at its Elandsfontein mine near Brits, on schedule, without a
disabling injury and just two years since the company`s acquisition of
Elandsfontein as an exploration project from Anglo Platinum Limited.
The first blast marking the start of UG2 ore production from Elandsfontein`s
open pit took place on 18 January this year and the targeted 600 000 t of ore
had been stockpiled by September in preparation for the commissioning of the
concentrator, which began last month. First concentrates will be shipped to
Anglo Platinum this month.
Among the key factors critical to the start of the concentrator`s commissioning
on schedule were the supply of electricity and water. Eskom completed the power
installation and switch-on in record time, while raw water will be supplied from
the regional Hartebees Irrigation Scheme through the Department of Water Affairs
and Forestry (DWAF).
Eland Platinum Managing Director David Salter described the commissioning of the
mine as "further chapters in Eland Platinum`s two-year success story".
"Every chapter so far has been completed on schedule - from seed capital-raising
to JSE listing; from the acquisition of a new order prospecting right to the
completion of exploration drilling; from the granting of our mining right to the
first blast to start open pit mining; from the placement of orders for long-lead
items to commissioning of the concentrator.
"We are also very pleased and proud that this fast-track development programme
has been achieved with an exemplary safety record, with over 2 million manhours
worked to date on site without a single lost-time injury.".
Salter paid tribute to "all of the company`s stakeholders" - employees,
shareholders, BEE partner the Ngazana Consortium, the DME, the various
regulatory bodies, advisors, suppliers and contractors for their contribution to
"a genuine, collaborative team effort".
"We are proud to hand over an excellent mine to Xstrata, who we know will
develop it further and make it the centre of platinum mining excellence that we
envisaged two years ago."
Queries:
James Duncan
Russell & Associates
+27 11 880 3924 (office)
+27 82 892 8052 (mobile)
Date: 08/10/2007 09:31:42 Produced by the JSE SENS Department.
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