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Eastplats being sued by Hebei Zhongheng Tianda over platinum mine sale

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Eastplats being sued by Hebei Zhongheng Tianda over platinum mine sale

Eastern Platinum Ltd. said Dec. 9 that China's Hebei Zhongheng Tianda Platinum Co. Ltd. has filed a claim against the company in the British Columbia Supreme Court with respect to alleged repudiation and breach of a share purchase agreement.

The claim relates to the sale in June of Eastplats' Crocodile River platinum mine to the Chinese group and calls for Eastplats to comply with the share sale agreement or pay damages and costs if it does not.

The company plans to vigorously defend against the action. It will respond once it has been formally served with the claim, it added.