Jubilee targeting Dikolong tailings production
JOHANNESBURG (miningweekly.com) – Following the commissioning of the third ARC furnace at Aim- and AltX-listed Jubilee Platinum’s Middelburg smelter operations, in Mpumalanga, the company was now focused on bringing its Dilokong chrome mine surface tailings into operation, Jubilee CEO Leon Coetzer said on Tuesday.
This, he explained, was in line with the company’s strategy of bringing into production its acquired surface platinum-bearing material and, ultimately, migrating its smelter to processing platinum concentrates.
The commissioning of the Middelburg smelter’s third ARC furnace was concluded on May 3, having reached the targeted design ferroalloy metal production rate. This targeted output projected the production of 400 t/m or 4 800 t/y of metal.
“[The commissioning of the furnace] concludes the final phase of our smelter renewal programme and the critical step in establishing a sustainable operation with positive earnings that will set Jubilee apart from most of its peers,” Coetzer noted.
Successfully bringing this furnace into operation also confirmed the company’s expectation of sustaining revenue growth supported by an increase in gross profit margins to a targeted 38%, which was expected to deliver positive smelter earnings targeting a net margin of 12%.
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