[miningmx.com] — Eastern Platinum, South Africa’s sixth-largest platinum group metals producer, on Thursday announced that is had signed a mandate letter with two financial institutions to arrange and underwrite a $100m corporate debt facility.
“This is an important step in the development of Eastplats,” said Eastplats president and CEO Ian Rozier.
“These funds will enable us to commence our Phase 1 growth plan for our Eastern Limb projects that will double our PGM production from our 2009 levels by the end of 2012,” Rozier added.
The mandated lead arrangers are UniCredit Bank’s London branch and South Africa’s Standard Bank.
