Aim- and AltX-listed metals processing company Jubilee Metals will relocate its fine chrome operation from the Dilokong chrome mine (DCM) to the group’s larger Inyoni or Windsor operations in South Africa.
Jubilee on May 19 said the move would optimise group earnings.
All of Jubilee’s processing facilities are fully operational, excluding DCM, which has indicated that there are no immediate plans to restart mining operations.
The potential roll-out of the fine chrome solution across Jubilee’s operations has been impacted on by current restrictions on the importing of goods and services, as well as supply chain disruptions.
With this in mind, Jubilee and DCM have agreed to terms under which the fine chrome operation will be terminated at DCM, affording Jubilee the opportunity to immediately start with the relocation of the facility to its other larger operations.
The relocation process is targeted to be completed towards the end of August and is expected to significantly enhance Jubilee’s chrome operational outputs.
The decision does not impact on Jubilee’s continued rights to the platinum-group metals in the DCM tailings.