Aim- and AltX-listed Jubilee Metals is making progress in increasing production from, and commodity exposure to, its projects in South Africa and Zambia.
The company’s PlatCro platinum group metals (PGMs) processing project in South Africa has been commissioned, with a 60 000 t per month capacity. This while the PlatCro chrome operation, acquired in January, continues to contribute to company earnings ahead of projections.
Additionally, Jubilee expects to double its PGMs production capacity to 60 000 oz/y from this month as the Eland Platinum project, in South Africa, starts production. Eland Platinum will add 30 000 oz/y to the company’s production capacity.
The company’s acquisition of the Sable Zinc Kabwe zinc/lead/vanadium project, in Zambia, is also progressing well, with the technical committee from the Zambian Competition and Consumer Protection Commission having issued an approval notice for ratification.
Jubilee CE Leon Coetzer said in a statement on Wednesday that the process design for the project was being finalised, which would allow the company to “hit the ground running” when it starts production in the fourth quarter of this year.
Meanwhile, Jubilee’s Dilokong Chrome Mine fine chrome plant, in South Africa, continues to ramp up. It delivered more than 3 800 t of saleable chrome concentrate for May, with a further ramp-up to 5 000 t targeted for this month.
Coetzer noted that an important part of the company’s ongoing development strategy was to diversify earnings through adding additional projects, widen metal exposure and expand its geographical footprint.