Jubilee Metals confirms restart of South Africa operations

(Sharecast News) - Jubilee Metals Group updated the market on its operations on Friday, confirming they had now restarted in strict adherence to the updated lock down rules and regulations set out by South African authorities.
The AIM-traded firm said its Inyoni surface platinum group metals (PGM) and chrome operation had recommenced production, and its Windsor joint venture PGM operation was preparing to restart production shortly.

It said the restarts followed the temporary shutdown of operations in South Africa, in line with the 21-day nationwide lock down enforced as a result of the Covid-19 coronavirus pandemic, as announced on 24 March and extended by 14 days to 30 April.

Staff at both operations had been reduced to include only critical workers, to maintain continuous operations.

"The company has enforced strict health and security measures to ensure that its employees and team are adequately and appropriately protected during this period, and it continues to work closely with the South African authorities," the board said in its statement.

"Jubilee is reviewing the situation with regard to its further chrome operations which currently remain on hold as a result of the pandemic.

"Further updates will follow in parallel to any new developments and announcements by president Ramaphosa during the lockdown period in South Africa."

Jubilee added that its Zambian Kabwe operation was still operating its copper refinery, with all other project-related work on-hold during the current crisis.

At 1331 BST, shares in Jubilee Metals Group were up 12.5% at 3.15p.