The commissioning and subsequent ramp-up of Jubilee Platinum’s fully integrated chrome and platinum Hernic operation, which commenced during March 2017, remains on schedule with the commencement of the first platinum concentrate production.
The first platinum production is a significant milestone for Jubilee Platinum and confirms its strategy to become a significant player in the platinum industry. [quote]
In February, Jubilee Platinum produced its first chromite concentrate after the successful tie-in of the chromite recovery plant into the Hernic operational stream.
Following the comissioning, the Hernic operations will consist of 71 unit processes operated through 108 control loops supporting material transfer systems totalling 7.1 km.
At full production Hernic will be the largest PGM beneficiation plant of surface chrome tailings in South Africa, targeting the processing of 55 000 tpm of chrome and PGM-rich material.
Hernic is capable of producing annual revenues of R400 million (conversion as at the commencement of the project) at an average metal basket price of US$906/oz of 3PGM and gold. The financial and operational risks of the project are significantly mitigated since the material is already at surface and requires neither the cost nor the risk associated with mining.
Further details of the company’s projects and performance will be included in the group’s unaudited interim results for the six months ended 31 December 2016 which is to be released before 31 March 2017.
Feature image credit: Jubilee Platinum (Hernic project PGM processing plant)