This equates to US$56.1 million compared to $39.2 million in FY,2019. The growth in revenue is due to strong operating results from its Retreatment Project.
Mining operation income over (eight consecutive quarters) – December 31, 2020 $5.6 million (2019 – $5.5 million) direct comparisons include: commercial production timing in 2019 and the most recent four quarters being negatively impacted by COVID-19 costs and 2020 South Africa lockdowns.
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The availability of the Retreatment Project as a 24-hour continuous operation including planned maintenance has improved significantly in 2020 to 86% up from 76% in 2019.
Eastplats reported 987,003 tons of chrome concentrate production, a 68% increase from 2019 production.
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On March 10, 2021, the Company and Union Goal signed updated Retreatment Project Agreements which capitalized on Eastplats’ two years of operating knowledge and continued commitment to the long-term benefits of the Retreatment Project.
During 2020, the Company completed the refurbishment of the small-scale PGM circuit. The Company only restarted and began operating the PGM Circuit D during Q3 2020.
The Company generated approximately 134 tons of pressed filter cake PGM concentrate and delivered approximately 32.18 tons during 2020.
During early 2021, the Company completed the reconfiguring and optimization of the PGM Circuit D which also includes funding for some of the initial work required to restart the main PGM plant circuit.