Jubilee Metals CEO Leon Coetzer
Photo by: Creamer Media
AltX- and Aim-listed Jubilee Metals ended 2018 on a high, delivering record production at its Hernic operation and increasing operational earnings for the fourth quarter, despite the festive period generally being challenging.
Jubilee had combined quarterly operational earnings attributable to it of £2.17-million, or R40-million, which is an increase of 13% compared with the prior quarter.
The Hernic operation, in the Limpopo province, set a new record with a 4% increase in production to 6 279 oz of platinum.
The company’s Dilokong Chrome Mine (DCM) fine chrome project, also in Limpopo, was commissioned during the quarter and was delivering high-grade chrome concentrate to specification.
“The plant is targeting the recovery of chrome from the around 620 000 t of chrome material contained in the existing DCM tailings.
“We intend to implement this technology into all our other operations in the near future,” said CEO Leon Coetzer.
The PlatCro platinum group metals (PGMs) project, also in Limpopo, started hydro-mining and operating its dewatering facility. The company expect to start with the delivery of PGM- rich material to the Eland Platinum concentrator this month.
“The reclamation and dewatering plant will facilitate the ramp-up of material delivery to the Eland Platinum concentrator, targeting a rate of between 50 000 t and 60 000 t of PGM-rich material a month,” the company said on Thursday.