Eastplats served termination notice for HZT agreement

JSE-listed Eastern Platinum (Eastplats) has received a written notice from China-based precious metals mining services provider Hebei Zhonghen Tianda Platinum (HZT) terminating, on the basis of breach or default, the share purchase agreement for Barplats Mines. “The company has also been advised of a further notice purportedly being given by HZT seeking the release to it of the escrow and break-fee funds being held by an independent escrow agent in connection with the transactions contemplated under the share purchase agreement,” the group said in an update to shareholders on Tuesday.