Eastern Platinum says an investigation into claims made by a whistleblower about the sale of chrome concentrate at discounted prices has found the allegations to be unsubstantiated.
A special committee formed by two independent directors of the company’s board investigated the allegations with the help of independent counsel and a third-party e-discovery specialist.
“The committee did not find evidence to establish that the company entered into any related party transaction pertaining to the sale of chrome concentrate,” said Eastern Platinum.
It said the committee further concluded that the prices of the contracts in respect of the sale of chrome concentrate described in the allegations were within a reasonable range of market price, particularly in the challenging circumstances the company faced in the latter half of 2022 and taking into account delivery terms and the grade of chrome concentrate.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
