Jubilee Platinum PLC (LON:JLP) has moved to assure shareholders that news of the voluntary business rescue of Hernic Ferrochrome Proprietary Limited to facilitate a restructuring of some its business activities has “no current effect” on Jubilee's operations at Hernic in South Africa.
In a statement, Leon Coetzer, Jubilee Platinum’s chief executive officer, said: "Jubilee is very accustomed to operating within this Business Process. We have already engaged with Hernic to offer our services wherever appropriate within this process.”
He added: “Normal operations at Hernic are expected to continue for the foreseeable future with stable chrome market conditions persisting.
“Our platinum and chrome operation is processing both current arisings stemming from Hernic's mining operations as well as platinum containing material from the vast surface stocks. As far as the Company is concerned it is business as normal.
Coetzer concluded: “We continue to be buoyant by our overall results and progress at our Hernic platinum and chrome operations and have over the past week achieved production levels in excess of 1 900 tonnes of feed material per day moving towards a robust operation. "