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Jubilee Platinum explores huge tailings treatment deal with Hernic

Last updated: 07:22 19 Jan 2015 GMT, First published: 08:22 19 Jan 2015 GMT

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Jubilee Platinum (LON:JLP) and major Hernic Ferrochrome are to explore the establishment of a new chrome tailings retreatment operation in South Africa.

A head of agreement has already been signed that envisages Jubilee beneficiating the chrome and platinum metals (PGM) contained in Hernic’s chrome tailings and secondary stocks.

Hernic, a major ferrochrome producer, already has 1.7mln tonnes of chrome tailings material available for treatment, but the total could eventually exceed 3mln tonnes through additional drilling.

Jubilee said just the 1.7mln tonnes is sufficient to produce a resource statement with 90% in the measured category.

Next step is for Hernic and Jubilee to conclude plant engineering and design and co-operation agreements to cover the construction and operation of a PGM processing plant at Hernic.

Leon Coetzer, Jubilee’s chief executive, said he was delighted Jubilee had been selected as a partner by such a major group.

The new PGM beneficiation plant would be the largest in South Africa to use chrome tailings re-claimed from a surface tailings dam, he added.

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