JOHANNESBURG (miningweekly.com) − JSE- and Aim-listed Jubilee Platinum said on Monday that it expects to generate R5.5-million a month in revenue from its new 5 MW furnace in Middelburg.

Commissioning activities have started and Jubilee said first production is expected in the first week of July.

The decision to build the 5 MW furnace, which would effectively double the existing furnace capacity on site, was motivated by a strong demand for the processing of ferroalloys, the company said.

Targeted throughput is initially set for 1700 t/m of feed material before ramping up to 2 200 t/m.

Further, Jubilee said it had submitted applications, through its black-empowered subsidiary Braemore, for chrome and platinum-group metals prospecting rights on an additional 69 farms near Brits.

“The commissioning of the new 5 MW furnace at the Middelburg processing facility will significantly enhance the company’s near-term revenue generation. We are now able to fully capitalise on our unique processing abilities through our access to the ConRoast process, such as our focus on near-surface platinum-bearing chrome reefs. This affords Jubilee near-term access to own platinum for our processing plant in Middelburg while we continue the development of the Tjate project in the longer term," said CEO Leon Coetzer.

The company submitted a mining right application for the project, situated on the eastern limb of South Africa's platinum-rich Bushveld Complex, to the Mineral Resources Department last week.

Jubilee is currently reviewing a proposal for a third-party investment into the Tjate project to fund the project to full bankability and potentially acquire an indirect interest in the Tjate project through part funding of the development programme.
 

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