JOHANNESBURG (miningweekly.com) – Metals processing company Jubilee Metals announced on Friday that its South African operations had recommenced and it was strictly adhering to the updated lockdown regulations set out to combat the Covid-19 pandemic.
Jubilee retreats mine tailings, waste, slag, slurry and other secondary materials generated from mining operations.
The company, headed by CEO Leon Coetzer, said its Inyoni platinum group metals (PGMs) and chrome surface operation had recommenced production, and its Windsor joint venture PGMs operation was preparing to do the same shortly.
Staff at both operations had been reduced to include only critical personnel needed to maintain continuous operations.
Strict health and security measures had been enforced to ensure that employees were adequately protected, while close liaison with the South African authorities was continuing.
The London Aim- and Johannesburg AltX-traded company said the situation regarding its other chrome operations still on hold was being reviewed and updates would follow.
In Zambia, Jubilee’s Kabwe Operation continued to operate its copper refinery with all other project-related work on hold, the company said in a statement to Mining Weekly.
During the six-month period to December 31, Jubilee’s earnings increased by 778% year-on-year to £6.6-million. Cash generation from operations was up 570% to just under £5-million, and revenue increased by 205% to £25.4-million.
Jubilee’s expanding portfolio across South Africa and Zambia gives it exposure to PGMs, chrome, lead, zinc, vanadium, copper and cobalt.