JOHANNESBURG (miningweekly.com) – Dual-listed Jubilee Platinum has been awarded a mining right for its 63%-owned, 22.3-million-ounce Tjate platinum group metals project, on the eastern limb of the Bushveld Igneous Complex.
Describing it as a significant milestone for the company, CEO Leon Coetzer noted that the mining right confirmed the potential value of the project. “The timing of the mining right coincides with the continued global recovery supporting the anticipated improvement in the platinum markets,” he said.
The company is now also required to issue 4.96-million ordinary shares at 1p apiece to its black economic empowered shareholder New Plats, as part of an agreement signed in 2009.