Jubilee Metals recovers platinum and other metals from tailings
Company has contracts with miners in South Africa and Zambia
Annual production forecast to rise to 60,000oz PGMs
What it does
Hernic is world’s 4th largest integrated ferrochrome producer with an estimated 3.2mln tonnes of platinum rich material at surface, with an additional 17 000 tonnes being added.
Jubilee Metals PLC (LON:JLP) is exclusive partner to recover PGMs..
Jubilee holds exclusive right to all PGMs currently at surface and from future mine production plus a 50% profit share on all chrome recovered.
Estimated 700 000 tonnes of platinum and chrome rich material at surface.
Some 1.45mln tonnes of platinum rich material at surface that is rising by an estimated 12,000 tonnes per month.
Target of 60,000 tonnes per month processing rate
Northam to fund refurbishment of platinum recovery circuit
Kabwe lead, zinc and vanadium (Zambia)
About 6.4 mln tonnes surface material containing an estimated 356 843 tonnes of zinc and 351 386 tonnes of lead.
Tjate Platinum Project (SA)
Targeted exploration 70 M oz PGMs over three farms
What the boss says, Leon Coetzer, chief executive
"The PlatCro PGM project, which has the potential to add 30,000 ounces per annum of PGM production to our existing 30,000 ounces, has reached its first phase commissioning targets achieving stable flow rates through the Eland PGM Plant.
The next commissioning target is to bring online the grinding circuit set for mid-July 2019.
We expect to achieve saleable PGM concentrates during August 2019.
“The DCM Fine Chrome project continues to deliver on expectation producing in excess of 5,000 tonnes of chrome concentrate during the month of June 2019.
- First half revenues showed revenues up 39% to £8.2mln and profits up 274% to £760,000
- Kabwe plant commissioning underway
- First sales PGM concentrate expected from Platcro during August
- Platcro output of 30,000 oz will double Jubilee’s output