Jubilee expands operational chrome footprint

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Published on Thursday, 08 June 2023 06:55

Written by editor

Jubilee Metals has expanded its operational chrome footprint by a further 360 000 tonnes per annum, targeting an additional 200 000 tonnes of chrome concentrate and 10 000 ounces (oz) PGM feed to Inyoni, through a new partnership agreement.

It expects to reach the initial 360 000 tonne capacity within 12 months, with the combined potential to add a further 390 000 tonnes per annum of chrome concentrate increasing its total potential to 1.4 million tonnes per annum.

Jubilee said the new partnership established a long-term relationship directly with a producing mining operation on the western limb of the Bushveld Complex, in South Africa, offering Jubilee greater exposure to the potential earnings of chrome.

Under the agreement, Jubilee will process the run-of-mine ore and produce chrome concentrate and PGM-rich tailings.

It said the earnings derived from the sale of the chrome concentrate and PGMs produced from the PGM-rich tailings, will be allocated based on the majority of the PGM earnings retained by Jubilee while participating in the chrome earnings at a significant level.

“Jubilee’s proven processing excellence continues to attract partnerships with large mining companies seeking best-in-class operational processing groups,” said Jubilee chief executive Leon Coetzer.

 “This new partnership agreement presents a more integrated long-term relationship with an existing chrome producer that will offer a stronger integration of the processing solution with the source of the material, ensuring a [stable] long-term production profile.”