Jubilee relocates plant to boost earnings


Jubilee relocates plant to boost earnings

Published Date: 2020-05-20 | Source: Stephen Gunnion | Author: Stephen Gunnion

Jubilee relocates plant to boost earnings

The mine-to-metals company is relocating its fine chrome recovery plant from DCM to one of its larger chrome sites.

Jubilee Metals is going ahead with the relocation of its fine chrome recovery plant at the Dilokong Chrome Mine in Limpopo in a move that it says will maximise its earnings. DCM, a joint venture with Sinosteel and Samancor, is currently not operating and has no immediate plans to restart.

The mine-to-metals company said a review of its operations found that the chrome facility could contribute more significantly to earnings if implemented at its larger Inyoni or Windsor chrome operations. With the exception of DCM, all Jubilee's processing facilities are fully operational.

The relocation process was targeted to be completed towards the end of August and was expected to significantly enhance Jubilee's chrome output. DCM would contribute to the costs of the move. It doesn't expect any material impact on its earnings during the relocation phase and said the termination of the chrome operations at DCM wouldn't impact its continued rights to the platinum group metals (PGMs) contained in the DCM tailings. Jubilee holds the exclusive right to all PGMs both currently at surface and from future mine production at DCM.

Jubilee's shares fell 2.8% to 70c yesterday.

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