Business
Joint venture with BMR Group PLC
Joint venture with BMR Group PLC.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \nRNS Number : 2659U Jubilee Platinum PLC 23 October 2017 \n\nJubilee Platinum PLC\nRegistration number (4459850)\nAltX share code: JBL\nAIM share code: JLP\nISIN: GB0031852162\n(\"Jubilee\" or \"Company\")\n \nJubilee forms joint venture with BMR Group PLC (\"BMR\") to recover zinc, lead and vanadium at the Kabwe Project in Zambia\nHighlights \n· Jubilee expands its surface processing footprint into Zambia to recover lead, zinc and vanadium from historical surface deposits\n· Jubilee partners with BMR to target the recovery of lead, zinc and vanadium from an estimated 6,4 million tonnes (3,2 million JORC compliant) of surface assets at Kabwe located in Zambia \n· All historical mine activities have been suspended offering the project unencumbered access to existing infrastructure \n· The partnership pools resources of both companies to bring the project to account\n· The joint venture formed between Jubilee and BMR will finance and execute the approved works programme with commercial production expected of lead and zinc in 2018 \n· Jubilee has the option to provide staged financing towards the execution of the project secured against the shareholding of the Kabwe project as well as preferred income from the project \n \nLeon Coetzer, Chief Executive Officer, says: \n \n\"I am delighted to announce that we have successfully secured access to this exciting surface project that extends our reach beyond the South African bushveld complex and into other commodities. This transaction is in line with our mission to take our brand and expertise across country borders and commodities. \n \nThis project is meaningful in scope, diversity and potential contribution to the Company's earnings. The Kabwe project offers immediate unencumbered access to a large surface stock rich in lead, zinc and vanadium created from historical mining and processing activities. The project benefits from existing infrastructure including power, water and building infrastructure, which significantly reduces the required project capital and shortens the implementation time line. \n \nThe Jubilee team's expertise and ability is perfectly suited to the project and s...