Jubilee Platinum (LON:JLP) has made the final payment that gives it full control of the DCM platinum tailings project in South Africa.
It now has the exclusive right to process chrome tailings from the Dilokong mine in South Africa.
The final consideration was R1mln (£47,000) and the total consideration £570,000 all paid in shares.
Jubilee is currently building a plant that will process 35,000 tons of taiings per month.
It struck a deal in September with mine owner ASA that if a chrome beneficiation section was built by the end of January, five months ahead of schedule, it would be paid up to 25% more for every ton of chrome concentrate produced.
This will give a major boost to the project’s economics, Jubilee repeated today.
The target is to process 30 000 tonnes per month of platinum-containing surface material.