Jubilee has announced acquisitions of strategic PGM tailings and an update at its South African chrome and PGM operations.
The Company is also pleased to announce it has entered into a further long-term, 10+ years of mine life, PGM feed supply agreement with a chrome mining customer, thereby expanding its PGM Operations to the Eastern Limb of the PGM-rich Bushveld Complex.
In addition, Jubilee has acquired outright 255 000 tonnes of PGM containing chrome tailings further increasing Jubilee’s existing surface PGM tailings.
Jubilee is also pleased to announce an update on progress at its South African chrome and PGM Operations where, in line with the Company’s chrome strategy, final stages of the commissioning of the chrome beneficiation plant have been entered with completion anticipated on time, by the end of Q2 2021, a further testimony to Jubilee’s track record of delivering projects on time and within budget.
Leon Coetzer, CEO of Jubilee, commented:
“To date, Jubilee’s current PGM operational footprint has been largely limited to the Western Limb of the mineral rich Bushveld complex, a single area of the two main PGM areas in South Africa. This new long term PGM Supply Agreement announced are of significant strategic value to Jubilee and expand our operations onto the Eastern Limb which provides the platform to source further growth opportunities.
“The new supply agreement also demonstrates our ability to win and form partnerships with key chrome mining clients, added to which we are excited to replicate the success of our Inyoni operation in the Eastern Limb region.
“We have already demonstrated that the improved efficiencies across our chrome and PGM operations resulted in record production and sustained earnings growth at the South African operations and we expect this to continue at pace.
“With a total processing capacity of 250 000 tonnes per month of chrome ore and tailings, this will play a key role in providing a continued sustained chrome and PGM feed.”