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Jubilee Metals Announces Various Projects Update in South Africa and Zambia

Mining News - Published on Mon, 17 Jun 2019

Image Source: Jubilee Metals
Jubilee Metals Group PLC, the AIM and AltX traded metals processing company, announced an update on progress at its various projects in South Africa and Zambia. Mr Leon Coetzer CEO of Jubilee said that “We continue to make excellent progress in implementing our strategy to build a world leading metals recovery business. Adding 30,000 ounces per annum of PGM production capacity to our existing 30,000 ounces is another huge milestone for Jubilee and should significantly impact our financial performance especially with PlatCro PGM producing in the low cost quartile. This is in addition to PlatCro Chrome operation, acquired in January 2019, which is already contributing to Company earnings ahead of projections.”

Highlights:

1. Successfully implementing strategy to increase production and commodity exposure to drive revenue and profitability

2. PlatCro PGM platinum and palladium dominant processing project in South Africa, commences commissioning with 60,000 tonnes per month capacity

3. Production of PGMs expected to commence during June 2019 in tandem with Eland Platinum, adding c.30,000 PGM ounces per annum to Jubilee’s production, doubling the existing annualised production capacity to c.60,000 ounces

4. Acquisition of Sable Zinc Kabwe Limited in Zambia progressing well with the technical committee from the Zambian Competition and Consumer Protection Commission issuing an approval notice for ratification

5. DCM fine chrome project continues to ramp-up exceeding 3,800 tonnes of saleable chrome concentrate for May 2019 with a further ramp-up to 5,000 tonnes of chrome concentrate targeted for June 2019

Source :

Posted By : Sanju Moirangthem on Mon, 17 Jun 2019
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