Hot on the heels of a copper tailings deal in Australia, its South African operation has found a second source of chromite tailings for its processing plant located at the Dilokong mine.
A trial will be carried out first, but Leon Coetzer, Jubilee’s chief executive, said potentially it is much higher grade than the material currently going through the plant.
“The first 5 000 tonnes of material will be processed to determine the economic contribution to the project with the option to increase the material up to 15 000 tonnes per month.
“The much higher mineral content of the third party ore compared with the current tailings material offers the potential to significantly increase the production rates for the project.”
Under the terms of the Framework Agreement, Jubilee’s subsidiary gets both a rand per tonne of product produced as well as a share of earnings generated from the processing of third party ore.
Coetzer added it had also received the final payment of £390,000 for its now sold Middelburg smelter.