JOHANNESBURG (miningweekly.com) – The performance of dual-listed Jubilee Platinum’s Hernic operations improved significantly in October, with 45 596 t of material processed to produce 1 427 oz of platinum-group metals (PGMs) – a 22% month-on-month increase.
Jubilee noted that this was in line with the company’s current focus on process optimisation as part of the final phase of the project execution. Jubilee expects to achieve a further milestone in operational performance during the fourth quarter, with the increase in feed material to the processing plant.
"The Hernic project continues to deliver excellent results as we step up the throughput during the final optimisation of the operation. Our October results illustrate the significant improvement in operational performance during this optimisation phase which we expect to continue over the next quarter,” said CEO Leon Coetzer.
He added that he was particularly pleased by the earnings margin the project was already achieving, with a unit cost of only $406/oz, making the Hernic project one of the lowest-cost PGM producers in the industry.
Project earnings during the month also increased by 47% to R6.65-million.