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Jubilee expects more commodities to add to its earnings in coming months

5th August 2019

By: Marleny Arnoldi

Online News Editor

     

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AltX- and Aim-listed metals processing company Jubilee Metals achieved a 75% increase in combined revenue for the six months ended June 30, reflecting the company’s focus on increasing and diversifying its earnings base.

CEO Leon Coetzer in a statement on Monday said revenue increased to R263-million, as a result of a considerable uplift in production figures across the portfolio, both in chrome and platinum group metals (PGMs).

The company’s chrome concentrate production was 164 936 t, while PGM production was 11 559 oz in the reporting period.

“Notably, our chrome performance had seen significant growth, which is attributable to our ground-breaking Dilokong Chrome Mine fine chrome operation and Windsor chrome being brought on line during the reporting period.

“Replicating this success, we expect to see a step-up in PGM production following the Windsor PGM project being brought into operation during July,” he added.

Meanwhile, the company will soon add zinc, vanadium, lead and copper to its commodity basket, following the acquisition of Sable Zinc Kabwe Refinery. This will further diversify Jubilee’s earnings and increase its metal exposure.

Jubilee reported a 47% increase in combined operational earnings for the reporting period to R103-million.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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