Published: April 18, 2018 |

[Click image to enlarge]

[Click image to enlarge]

Jubilee Metals Group PLC said it has executed a processing agreement with Northam Platinum subsidiary Eland Platinum.

The AIM-listed miner said the agreement involves Northam funding the refurbishment of its platinum recovery circuit, including an existing recovery plant, to which Jubilee would begin transporting platinum rich material for processing from June 2018.

Processing will target a minimum rate of 60,000 tonnes per month of platinum rich PlatCro material at a fixed processing cost, producing an estimated 2,800 ounces of platinum group metals (PGM) per month from February 2019.

Jubilee added that revenue from the sale of PGM concentrate, estimated at around US$2.4mln per month at current commodity prices, would be shared in an agreed earning split, in which the group said it would retain a “significant majority of the earnings”.

Leon Coetzer, Jubilee Metals’ chief executive, said: “I am pleased to announce our processing agreement with Northam. The structure of the agreement captures the intent of both companies to develop a lucrative partnership in the processing of PGM and chrome rich material. It also opens the door to grow our partnership to engage in similar further opportunities with one of the world’s largest platinum producers.”

Source: Proactive Investors

About Jubilee Metals
Jubilee Metals Group Plc, formerly Jubilee Platinum, is a platinum focused mining and exploration company with world-class platinum assets. The company’s exclusive right to a unique process for the smelting of high chrome-bearing platinum concentrates, gives the company a strategic competitive edge over its peers.

Jubilee’s shares are traded on the AIM market of the London Stock Exchange and the South African Alt-X of JSE Limited.

To stop by Jubilee’s website, CLICK HERE

To stop by Northam ‘s website, CLICK HERE

Be in-the-know when you’re on-the-go!