Jubilee Metals Group PLC (LON:JLP) has begun the commissioning of fine chrome operations at its PlatCro and DCM projects in South Africa.
The AIM-listed firm said PlatCro’s pre-classification and dewatering circuit had begun production of platinum group metals (PGM) rich material for refining at the Eland Platinum plant owned by PGM producer Northam Platinum.
WATCH: Jubilee Metals' Leon Coetzer on significant chrome acquisition
Production at the project is to be ramped up to a target of 60,000 tonnes per month of PGM material, more than doubling Jubilee’s current processing rate.
At DCM, the firm said its fine chrome plant had begun commissioning, with production to be ramped up to 25,000 tonnes per month of additional capacity over the next 4 weeks and targeting production of 8,000 tonnes per month of fine chrome concentrate.
The news follows an announcement earlier this month that Jubilee was acquiring rights to all the chrome at the PlatCro project, having previously controlled the platinum group elements, for £8.6mln.
READ: Jubilee Metals Group acquires major producing chrome operation
Leon Coetzer, chief executive of Jubilee Metals, said the company intended to integrate the PlatCro chrome operation into its current PGM project, which would streamline costs and “optimise metal earnings”.
He added that the fine chrome plant at DCM would enable to company to “target the recovery of the fine chrome element of existing mine waste material”, which in turn would open “tremendous opportunities to Jubilee for further growth in the chrome industry”.
In early trading Monday, Jubilee shares were up 1% at 2.4p.