09:04 AM EDT, 08/13/2024 (MT Newswires) -- Eastern Platinum ( ELRFF ) on Tuesday said second-quarter net income fell to US$3.5 million, or $0.02 per share, from US$7.7 million, or $0.04 per share.

According to the company, the decrease was largely attributable to lower chrome sales in the quarter offset by a decrease in finance costs and a foreign exchange gain in the period due to the strengthening of the South African rand.

"We continue to focus our efforts on ramping up production in the Zandfontein underground section at the Crocodile River Mine and expect to process the run-of-mine ore soon," said Chief Executive and President Wanjin Yang. "We are all working hard to improve chrome recoveries from the remaining tailings resource."