JOHANNESBURG (miningweekly.com) – Dual-listed Jubilee Platinum's share price on the JSE surged nearly 10% and its share price on the LSE by nearly 9% on Wednesday afternoon after the company announced the start of platinum concentrate production at its Hernic operations.
The commissioning and subsequent ramp-up of the fully integrated chrome and platinum operation, which started in March, remains on schedule, with the start of the first platinum concentrate production.
“The first platinum production is a significant milestone for the company and confirms its strategy to become a significant player in the platinum industry,” Jubilee said in an update to shareholders on Wednesday.
In February, Jubilee achieved the first chromite production at Hernic, following the successful tie-in of the chromite recovery plant into the operational stream.
At full production, the project is expected to be the largest platinum group metal (PGM) beneficiation plant of surface chrome tailings in South Africa, targeting the processing of 55 000 t/m of chrome- and PGM-rich material.
The mine-to-metals specialist will provide further information on Friday when it publishes its interim results for the six months ended December 31.