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Jubilee Metals expects further growth in platinum output from Hernic in fourth quarter

Jubilee has reassured investors that it has taken action to address a tailings spill at the Hernic project
The Hernic operations in South Africa

Jubilee Metals Group PLC (LON:JLP), formerly Jubilee Platinum, expects to record a further increase in platinum production from its Hernic project in South Africa in the fourth quarter.

The company estimates production from operations at the chrome and platinum recovery plant at Hernic's ferrochrome mine will exceed 25% growth compared to the third quarter.

It also reassured investors that it has taken action to address a tailings spill at the plant on 29 December.

The spill had caused a V-shaped failure of the side wall of compartment 2 of the tailings dam but this was resealed on the same day.

The spillage was also contained on the adjacent property, which was previously used as an opencast mining area.  

Clean-up of the spill has begun and Jubilee expects to resume depositing of final processed tailings in compartment 2 before the end of the month. 

Compartment 2 of the tailings dam was used for depositing the final chrome and platinum processed tailings from Jubilee's Hernic project operation.

In the meantime Jubilee has been using compartment 1 of the tailings dam for depositing the final processed tailings.

“Jubilee will continue operating its PGM processing plant and will reduce throughput only during the interim period by approximately 30% to allow Hernic to fully restore compartment 2,” it said.


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