Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Jubilee Metals executes processing agreement with Northam Platinum

The agreement involves Northam funding the refurbishment of its platinum recovery circuit, including an existing recovery plant, to which Jubilee will begin transporting platinum rich material for processing
Platinum bars
Revenue from the processed material is estimated at around US$2.4mln per month

Jubilee Metals Group PLC (LON:JLP) said it has executed a processing agreement with Northam Platinum subsidiary Eland Platinum.

The AIM-listed miner said the agreement involves Northam funding the refurbishment of its platinum recovery circuit, including an existing recovery plant, to which Jubilee would begin transporting platinum rich material for processing from June 2018.

READ: Jubilee Metals boosts quarterly platinum group metals production by 30% at Hernic

Processing will target a minimum rate of 60,000 tonnes per month of platinum rich PlatCro material at a fixed processing cost, producing an estimated 2,800 ounces of platinum group metals (PGM) per month from February 2019.

Jubilee added that revenue from the sale of PGM concentrate, estimated at around US$2.4mln per month at current commodity prices, would be shared in an agreed earning split, in which the group said it would retain a “significant majority of the earnings”.

Leon Coetzer, Jubilee Metals' chief executive, said: "I am pleased to announce our processing agreement with Northam. The structure of the agreement captures the intent of both companies to develop a lucrative partnership in the processing of PGM and chrome rich material. It also opens the door to grow our partnership to engage in similar further opportunities with one of the world's largest platinum producers.”

View full JLP profile View Profile

Jubilee Metals Group Timeline

Related Articles

1516878599_58441.jpg
August 08 2018
Eurasia Mining has an enviable position in Russia platinum and platinum group metals
1532634455_JaxonMinerals3.png
July 28 2018
Jaxon said the first phase of fieldwork included geological mapping and sampling the Red Spring area, located within the Hazelton Property.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use