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Jubilee Metals taking on fine chrome operations from JV partners

Published: 07:53 19 May 2020 EDT

Jubilee Metals Group -

Jubilee Metals Group PLC (LON:JLP) has worked out a low-cost deal to move fine-chrome operations from a joint venture to its larger operations elsewhere in South Africa.

The fine chrome operation, which is currently part of the Dilokong Chrome Mine (DCM) joint venture with Sinosteel and Samancor, is paused with no plans to reopen, the AIM-listed company said. 

Jubilee noted that moving the fine chrome facility to its larger Inyoni and Windsor chrome sites, both of which are still operational, would enable it to contribute more significantly to earnings.   

Terms have been agreed to terminate DCM’s fine chrome operations and allow it to immediately begin relocating the facility, with the aim of it being up and running by the end of August.

Jubliee, which said DCM has agreed to contribute to the costs of the move, expects it to “significantly enhance” its chrome output. The company will keep its existing rights to the PGMs contained in the DCM tailings.

“The manner in which Jubilee is able to react and find solutions to the current challenges faced as a result of the (coronavirus) COVID-19 pandemic is testimony to the ingenuity of the Jubilee team,” the group's chief executive Leon Coetzer said in a statement.

“The remarkable success of our fine chrome facility has proven itself as a leading solution for the recovery of chrome previously regarded as unrecoverable and I look forward to seeing the success replicated at our other operations.

“It is this ingenuity that has lead Jubilee to implement ground breaking solutions in the mining and metal industry which creates sustainable opportunities from what others regard as waste,” he added.

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