Last checked at 2 Nov 2009 07:00
| SYLVANIA RESOURCES PLC ASX:SLV AIM:SLV Registration number 091 415 968 ISIN AU000000SLV8 ("Sylvania") | JUBILEE PLATINUM PLC AIM: JLP JSE: JBL Registration number 4459850 ISIN GB0031852169 ("Jubilee") |
2 November 2009
Joint Announcement
Sylvania and Jubilee Agree to Combine Forces to Provide Total Capability for Platinum and Chrome Tailings Retreatment
Sylvania and Jubilee announce that they intend to enter into a strategic partnership jointly to provide a total capability solution for the processing of platinum group metals (PGMs) to the secondary PGM sector. This alliance brings together Sylvania's demonstrated ability to retreat surface tailing stockpiles for recovery of PGMs into concentrate and Jubilee's industry accepted ConRoast smelting flexibility.
Highlights
Sylvania and Jubilee to enter into strategic alliance to smelt Sylvania's platinum group metal concentrates from its tailings retreatment projects that are not tied into other contracts.
This alliance offers a total solution for processing chrome tailings and northern limb Plat Reef deposits for PGM concentrate previously considered uneconomic or challenged by conventional smelting routes
This alliance offers the secondary PGM industry a unique "ore to metal" strategy not currently available to the secondary sector
Sylvania and Jubilee agree that ConRoast be the preferred smelting route for Sylvania's primary PGM mining projects in the northern limb of the Bushveld Igneous complex
This alliance offers an environmentally friendly, safe, cost effective and chrome insensitive smelting solution
Sylvania CEO Terry McConnachie said "In entering into this alliance we are extending our demonstrated success in the secondary platinum recovery sector and have no limit to what can be provided to current producers for retreatment of current tailings stockpiles"
Jubilee CEO Colin Bird said "I am delighted we are teaming up with Sylvania. Our alliance is a logical step towards achieving the mission of total capability in the PGM industry"
This strategic alliance provides Sylvania with access to Jubilee's smelting experience and technology and allows Jubilee to benefit from Sylvania's secondary PGM recovery experience.
The alliance brings Sylvania closer to its mission for total capability for its tailings retreatment and provides Jubilee with a platform for fast commercialisation of the ConRoast process.
The alliance allows the parties to compete together for new opportunities as opposed to competing with one another, offering a strong combined total capability where Sylvania will concentrate on its core strengths, concentrate flotation and Jubilee will concentrate on the smelting discipline to the combined benefit of both companies. This co operation will fast track both our operations and save extensive R&D costs for Sylvania and Jubilee.
Sylvania has offered Jubilee first preference as smelter builder and operator for PGM concentrate from its primary PGM projects in the northern limb of the Bushveld Complex.
The ConRoast process, recently acquired by Jubilee through its acquisition of Braemore Resources plc provides mining companies that have total capability, a processing solution for the treatment of currently large stockpiles of unviable converter slag and revert tailings and to receive PGMs not in concentrate but as a high grade PGM product suitable for final metal refining.
For further information please contact:
| Sylvania Resources | Jubilee Platinum |
| South Africa Terence McConnachie Managing Director Tel +27 11 673 1171 Louis Carroll Finance Director/Joint Company Secretary Tel +27 11 673 1171 United Kingdom Richard Brown/ Richard Greenfield Ambrian Partners Limited, Nominated Adviser Tel +44 20 7634 4700 Laurence Read/Beth Harris Threadneedle Communications, Public Relations Adviser Tel +44 20 7653 9855 Australasia Richard Rossiter Non Executive Chairman Tel +61 41 868 8338 Grant Button Director/Joint Company Secretary Tel +61 8 922 64777 | Colin Bird Jubilee Platinum plc Tel +27 (011) 253 3280 Leon Coetzer Braemore Resources plc Tel +27 (0) 87 754 7608 Andrew Sarosi Jubilee Platinum plc Tel +44 (0) 1752 221937 Suzanne Johnson-Walsh Bishopsgate Communications Ltd Tel +44 (0) 20 7562 3350 Brian Christie/Leonard Eiser Sasfin Capital Tel +27 (0) 11 809 7500 Matthew Robinson/ Rose Herbert FinnCap Tel +44 (0) 20 7600 1658 |