- Secures two long-term PGM feed supply agreements.
- Sizeable amount of feed is particularly high in rhodium content.
- Commissioning of new chrome ore processing facility by the end of July.
Jubilee Metals (JLP: 19.6p), an Aim-traded mining company that makes it’s money by extracting platinum group metals (PGMs) and copper from mine tailings in South Africa and Zambia, has secured a significant amount of PGM containing surface material and expanded its operational footprint beyond the Western Limb of the Bushweld Complex.
In quick succession, the company has entered into two long-term PGM feed supply agreements on the Eastern-Limb of the Bushweld Complex that will deliver an additional 46,500 tonnes per month of PGM rich feed, equivalent to the production of 33,700 PGM ounces (oz) per year. The consideration is linked to the prevailing PGM basket price and is payable monthly in advance of uplifting the material and transporting it to Jubilee's Inyoni PGM plant.