Jubilee, the AIM-quoted and Altx-listed Mine-to-Metals specialist, has commissioned the third ARC furnace has commenced at its Middelburg smelter operations. This marks the final phase of the 4-phase renewal programme implemented by Jubilee at the Middelburg Smelter over the past two years.
“The project had to contend with very challenging adverse weather conditions but was able to limit this impact through innovative solutions and team work. This phase of our smelter operations renewal programme is the final step in establishing a sustainable operation with positive earnings setting Jubilee apart from most of its peers in the emerging platinum mining space,” said Jubilee CEO Leon Coetzer.
“Our focus now intensifies in-line with our stated company strategy, of bringing into production our access to platinum containing surface material, ultimately to migrate our smelter operations onto processing platinum concentrates.” The commissioning programme is targeting the first hot metal load for 17 April 2014, subject to the successful conclusion of each commissioning phase.
Jubilee’s scoping report, in regard to the mining right application for Jubilee’s targeted 70 million PGM ounces Tjate platinum mining project, has also been submitted on schedule to the Department of Mineral Resources, which brings Tjate a step closer to the granting of a mining right and the conclusion of the sale of its Quartzhill portion of the Tjate project.
“We continue to drive the mining right application for our world class Tjate platinum project. The sale of Jubilee’s non-core Quartzhill property is linked to the conclusion of the mining right application and granting of the mining right. The funds when released from this sale will be used to further develop the Tjate project and towards the funding our surface assets,” said Coetzer.
Jubilee’s subsidiary Tjate Platinum Corporation concluded a sale of rights agreement, pursuant to which Rustenburg Platinum Mines, a wholly owned subsidiary of Anglo American Platinum, has agreed to acquire the Quartzhill farm portion of the Tjate Platinum project for a cash consideration of R75 million.
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Jubilee commissions third ARC furnace in Middelburg