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Jubilee Platinum well on track at South African platinum and chrome projects

Jubilee's mining and processing operations performed well in the second quarter of 2017
platinum
Jubilee's Hernic project produced almost as much platinum in July as it produced in the rest of the year to date

Jubilee Platinum PLC (LON:JLP) achieved design throughput at its Hernic operation in June 2017, leading on to positive earnings in July 2017.

As it stands the company’s Hernic project has produced 1,697 ounces of platinum group metals.

Meanwhile, at the Dilokong chrome mine, operational earnings attributable to Jubilee of £390,000 during the quarter come as chromite concentrate production rose by 18% to 17,659 tonnes. 

READ: Jubilee shines as it confirms Hernic is operating at full production rate

"The Hernic operation has progressed from commissioning to a fully operational business unit and has demonstrated its capability of achieving the expected design parameters,” said Jubilee chief executive Leon Coetzer.

He added that production numbers for July at Hernic are already similar to the total PGM production for the year, highlighting the rate of the ramp up.

“With commissioning concluded we continue to strive for operational excellence through continued optimisation of operational efficiencies.”

And he hinted there might be further deals on the horizon.

“We are currently reviewing a number of business opportunities both in South Africa and abroad. A number of these opportunities offer the potential to continue the Company's transformation process."

 

 

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