Jubilee Metals Group PLC - London-based metals processing company - Significantly increases chrome ore beneficiation capacity to over 220,000 tonnes per month, up from 140,000 tonnes per month, allowing the company to sharply increase the production of chrome concentrates from the various feed streams as an offset cost to its platinum group metal production costs. Jubilee targets to produce 1.2 million tonnes of chrome concentrate per annum
Jubilee also says its new Inyoni operations is already exceeding design throughput targets, reaching 86,000 tonnes per month of chrome and platinum group metal containing run-of-mine feed, together with 40,000 tonnes of PGM containing historical tailings material. This places Jubilee on course to achieve its PGM ounce production target of 44,000 ounces per annum through its 100% owned Inyoni alone. Jubilee expects to achieve 43,000 PGM ounces for the financial year ended June 30.
London current stock price: 15.40 pence, up 6.2% on Monday
12-month change: down 24%
Johannesburg current stock price: ZAR2.96, up 5.0%
12-month change: down 26%
By Artwell Dlamini; artwelldlamini@alliancenews.com
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Jubilee Metals (JLP)