# Jubilee Metals Group further acquires PGM material in the Eastern Limb

- Link: https://www.directorstalkinterviews.com/jubilee-metals-group-further-acquires-pgm-material-in-the-eastern-limb/412996549
- Published: 2021-06-04T07:43:16+01:00
- Author: Amilia Stone

**[Jubilee Metals Group](https://www.directorstalkinterviews.com/company/jubilee-metals-group-plc/jlp.l)
plc** ([LON:JLP](https://www.directorstalkinterviews.com/company/jubilee-metals-group-plc/jlp.l)),
a leader in metals processing with operations in Africa, has announced a further
substantial acquisition of the rights to 944 000 tonnes of PGM containing tailings
in the Eastern Limb of the PGM-rich Bushveld Complex. This comes in quick succession
to the PGM Supply Agreements entered in to and the acquisition of 255 000 tonnes
of PGM containing material in the Western Limb, as announced on 3 June 2021.

**Highlights**

·    Acquired the rights to 944 000 tonnes of PGM containing surface tailings (before
accounting for any moisture) in the Eastern Limb

·    This is in addition to the recent PGM Supply Agreements in the Eastern Limb
and the acquisition of 255 000 tonnes of PGM containing material

·    Demonstrates Jubilee as the go-to company with the knowledge and IP to maximise
value of these surface tailings

·    Targeted to commence with the upliftment and transport of the PGM material 
during June 2021 at a minimum rate of 30 000 tonnes per month, the equivalent of
1 600 PGM ounces per month

·    Acquisition fully commits the expanded Inyoni PGM capacity prior to commissioning
commencing in July 2021 without committing existing historical surface tailings

_PGM – 6 Element Platinum Group Metals including platinum, palladium, rhodium, ruthenium,
osmium and gold_

**Further Details**

Jubilee has acquired the rights to approximately 944 000 tonnes (before accounting
for any moisture) of surface tailings containing PGMs in the Eastern Limb. The consideration
is linked to the prevailing PGM basket price and is payable monthly in advance of
uplifting the material and transporting it to Jubilee’s Inyoni PGM plant. Jubilee
has targeted to commence the upliftment of the PGM material during June 2021 targeting
a minimum rate of 30 000 tonnes per month, the equivalent of 1600 PGM ounces per
month. Until recently, Jubilee’s current PGM operational footprint has been limited
to the Western Limb, a single area of the two main PGM areas in South Africa. 

The material will be initially processed at Jubilee’s expanded Inyoni PGM facility
and this transaction, together with the recently announced PGM Supply Agreements,
ensures that the expanded Inyoni PGM capacity is fully committed with current arising
tailings alone which excludes the existing historical tails already secured by Jubilee
which offers the opportunity to further expand the PGM processing capacity. As previously
announced, consideration is being given to implementing a dedicated processing facility
in the Eastern Limb to further expand the Company’s processing footprint but in 
any event, this acquisition of material provides the option to Jubilee to secure
additional processing capacity through acquisition, partnership or construction 
of a new facility to further expand its processing footprint.

> **Leon Coetzer, CEO of Jubilee Metals Group, commented: **“I am thrilled we have
> been able to secure a further significant amount of PGM containing surface material
> in the Eastern Limb, in such quick succession to the PGM Supply Agreements we 
> announced on 3 June 2021. The Eastern Limb has been a key focus of Jubilee to 
> expand our PGM reach and operational capacity and this material further solidifies
> our presence there.
> “Our reputation as the go-to partner in an ever expanding operational footprint
> is just another example of our ability to outpace competitors and drive growth
> in the region and I am highly confident that we will secure further long term 
> feed supplies and operational presence driving our sustained earnings in South
> Africa.”

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