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Jubilee Platinum revenues soar as South Africa operations come on-stream

Jubilee has chrome and platinum reprocessing plants at the Hernic and Dilokong mines
picture of platinum waste
Jubilee has two reprocessing plants at mines in South Africa

Rising production from its two tailings operations in South Africa sent annual revenues soaring at Jubilee Platinum PLC (LON:JLP).

Turnover rose to £9.47mln (£1.47mln) in the year to June, while losses before impairments were reduced to £2.1mln from £3.41mln.

READ: Jubilee Platinum gets profits boost as Hernic in South Africa ramps up

Jubilee has chrome and platinum reprocessing plants at the Hernic and Dilokong mines.

Nearly of all the sales in the year (£9.37mln) came from Dilokong, which contributed for a full year.

The Hernic operation, meanwhile, generated first sales of £430,000 in the final quarter.

Since the year end, Jubilee has already announced production at Hernic trebled in the quarter to September.  

READ: Jubilee Platinum enters lead and zinc recovery venture in Zambia

The junior added it has decided to write down the value of its nickel assets in Australia due to the ongoing dispute with BHP Billiton.

The cost of that and other one-offs meant a statutory loss before tax of £20.4mln.

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