Eland Platinum - Eland Platinum contract awarded t
ELD
ELD
Eland Platinum - Eland Platinum contract awarded to DRA Mineral projects
Eland Platinum Holdings Limited
(formerly Nungu Trading 500 Limited)
(Incorporated in South Africa)
(Registration number 2005/029957/06)
(JSE code: ELD & ISIN: ZAE000078655)
("Eland Platinum" or "the Company")
ELAND PLATINUM CONTRACT AWARDED TO DRA MINERAL PROJECTS
Eland Platinum announced today (20 October 2006) that it has signed a
contract worth more than R600 million with DRA Mineral Projects (Pty)
Limited (DRA) for the supply of a 250 000t/m concentrator and associated
infrastructure for the former"s Elandsfontein Platinum Mine near Brits.
The lump sum turnkey (LST) contract, which features cost- and time-based
reward/risk-sharing elements, is DRA"s largest LST contract to date.
Eland Platinum Managing Director David Salter said: "DRA has demonstrated
its leadership in the platinum field over many years and has the proven
skills and experience to meet our exacting standards and aggressive
development schedule.
"We have negotiated a contract that will allow both parties to derive
benefit from the excellence we know DRA will deliver."
Salter added that it was particularly relevant to Eland Platinum that DRA
is fully Black Economic Empowerment (BEE) compliant, following its recent
BEE transaction with Shanduka Resources.
DRA Director - Project Development Leon Uys said: "We are very pleased that
Eland Platinum has awarded us this LST contract. Our largest to date, it
confirms our position as the industry leader in the design and construction
of platinum concentrators.
"Our project team is already hard at work, and we look forward to adding
another successful platinum concentrator to our list."
Queries:
Eland Platinum James Duncan
Russell & Associates
27 11 880-3924
27 82 892-8052
james@rair.co.za
DRA Maureen Mphatsoe
Shanduka Group
27 11 202-8698
27 82 774-6787
mmphatsoe@shanduka.co.za
Date: 20/10/2006 12:55:02 PM Produced by the JSE SENS Department
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