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Jubilee Platinum ready to go with second tailings plant

The plant will produce both chromite and platinum, with the tailings from the chromite process to provide the raw material for the platinum.
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Hernic has 3mln tonnes in its tailings dumps

Jubilee Platinum PLC (LON:JLP) expects to push the start button of its huge new tailings plant at the Hernic chrome mine in South Africa within weeks.

The plant will produce both chromite and platinum, with the tailings from the chromite process to provide the raw material for the platinum.

Hernic is the fourth largest chrome miner in the world and has a huge amount of material piled up and is still producing more.  

Jubilee said it will tie the chromite plant in with Hernic’s operation within ten days, while integration of the two recovery plants is also expected to complete this month.

In total, the two plant will transport the tailings material over 7km of conveyors.

At full production, it will be the largest PGM beneficiation plant of surface chrome tailings in South Africa with the aim to process 55,000 tons per month of chrome and PGM tailings.  

Hernic’s tailings dumps have been classified having 1.7mln tons PGM material, of which approximately 90% is in the measured category. Other dumps could boost this to 3mln tons of raw material containing more than 224,000 ounces of platinum.

Annual revenues of £18.2mln (R400mln) are forecast at an average metal basket price of US$906 per oz.

Jubilee added it is now into final functional testing of fully integrated metallurgical unit processes using process water prior to feeding chromite and PGM material.

Capital costs to the commissioning stage are expected to be £10mln (R167.1mln) or 85% of the projected total capital spent on the project.

 Leon Coetzer, Jubilee’s chief executive said: "We are excited with the progress as we complete the testing and commissioning of our Hernic project. 

"The complexity of bringing such a large project into operation has been well managed through a disciplined commissioning program and the support of our contracted engineering and project management partners.” 

Jubilee added it had also raised £340,000 through a warrant exercise. 

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