Business
EXPANSION OF CHROME AND PGM FOOTPRINT
EXPANSION OF CHROME AND PGM FOOTPRINT.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n\nJubilee Metals Group PLC\nRegistration number (4459850)\nAltx share code: JBL\nAIM share code: JLP\nISIN: GB0031852162\n(\"Jubilee\" or \"the Company\" or \"the Group\")\n \nDissemination of a Regulatory Announcement that contains inside information according to UK Market Abuse Regulations. Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.\n \nEXPANSION OF CHROME AND PGM FOOTPRINT\nJubilee Metals Group PLC (AIM: JLP; Altx: JBL), a leader in diversified metals processing, with operations in Africa, is pleased to announce a new partnership agreement for its PGM and chrome operations in South Africa (\"the Agreement\").\nHighlights\n§ Jubilee expands its operational chrome footprint by a further 360 000 tonnes per annum processing capacity targeting an additional 200 000 tonnes chrome concentrate and 10 000 oz PGM feed to Inyoni, through a new partnership agreement.\n§ The new partnership establishes a long-term relationship directly with a producing mining operation on the western limb of the Bushveld Complex, offering Jubilee greater exposure to the potential earnings of the chrome produced through Jubilee's renowned efficiencies.\n§ Under the terms of the Agreement, Jubilee has committed to upgrade the existing brownfield processing facility at the mine, by retrofitting Jubilee's proven process solution (\"the Plant\"), to reach an annualised processing capacity of 360 000 tonnes of run-of-mine (\"ROM\") per annum by end June 2023.\n§ The accelerated upgrade of the Plant has already commenced by leveraging off available processing infrastructure at Jubilee's current chrome operations.\n§ Jubilee has the option to further expand the processing facility to reach 720 000 tonnes per annum (producing an expected 390 000 tonnes per annum of chrome concentrate).\n§ Jubilee has budgeted a capital investment of US$8 million to complete the Plant, which will be funded through Jubilee's own cashflows and balance sheet.\n§ Under the terms of the Agreement, Jubilee's potential earnings per tonne of chrome concentrate produced, represent a five-fold increase over existing toll treatment terms (toll agreements delivering a 4% margin at today's prices).\n§ The Agreement is in line w...