# Jubilee Metals Group PLC Excellent progress in implementing strategy

- Link: https://www.directorstalkinterviews.com/jubilee-metals-group-plc-excellent-progress-in-implementing-strategy/412784241
- Published: 2019-06-05T14:05:33+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)),
the AIM and AltX traded metals processing company, has today provided an update 
on progress at its various projects in South Africa and Zambia.

##### Highlights:

·   Successfully implementing strategy to increase production and commodity exposure
to drive revenue and profitability

·    PlatCro PGM (platinum and palladium dominant) processing project in South Africa,
commences commissioning with 60,000 tonnes per month capacity

·    Production of  PGMs* expected to commence during June 2019 in tandem with Eland
Platinum, adding c.30,000 PGM ounces per annum to Jubilee’s production, doubling
the existing annualised production capacity to c.60,000 ounces

·   Acquisition of Sable Zinc Kabwe Limited in Zambia progressing well with the 
technical committee from the Zambian Competition and Consumer Protection Commission(“
ZCCPC”) issuing an approval notice for ratification

·  DCM fine chrome project continues to ramp-up exceeding 3,800 tonnes of saleable
chrome concentrate for May 2019 with a further ramp-up to 5,000 tonnes of chrome
concentrate targeted for June 2019

* 6 Element Platinum Group Metals including platinum, palladium, rhodium, ruthenium,
osmium and gold

> **Leon Coetzer, Jubilee Chief Executive Officer, says:** “We continue to make 
> excellent progress in implementing our strategy to build a world leading metals
> recovery business. Adding 30,000 ounces per annum of PGM production capacity to
> our existing 30,000 ounces is another huge milestone for Jubilee and should significantly
> impact our financial performance especially with PlatCro PGM producing in the 
> low cost quartile.  This is in addition to PlatCro Chrome operation, acquired 
> in January 2019, which is already contributing to Company earnings ahead of projections.
> “Alongside the positive increases in chrome and PGM processing, production at 
> our DCM Fine Chrome project also continues to ramp up in-line with expectations.
> The successful commissioning of our ground-breaking fine chrome circuit is testament
> to the team’s ability to design build and execute advanced mine waste treatment
> projects, to rapidly improve earnings and profitability.
> “An important part of our on-going development strategy is to diversify earnings
> through adding additional projects, widening metal exposure and expanding our 
> geographic footprint.  I am therefore delighted with the official recommendation
> from the ZCCPC in support of our acquisition of the Kabwe zinc, lead and vanadium
> project in Zambia from Glencore.  As a result, and to utilise time efficiently
> during this interim phase, we continue to finalise the process design which will
> allow us to hit the ground running on formal completion, targeting production 
> in Q4 2019.”

**PlatCro operations – chrome, platinum and palladium (South Africa)**

In addition to the chrome operation already contributing positively to the group
chrome earnings and ahead of projections, Eland Platinum has commenced commissioning
of its platinum recovery plant and targets production of PGMs from Jubilee’s PlatCro
PGM material during June 2019.

The project aims to process 60,000 tonnes per month of PGM rich material in partnership
with Eland Platinum capable of adding an approximate further 30,000 PGM ounces per
annum to Jubilee’s production, potentially doubling Jubilee’s existing processing
capacity.

**Kabwe operation – zinc, lead and vanadium (Zambia)**

As previously announced on 21 March 2019, Jubilee has entered into an agreement 
with two subsidiaries of [Glencore plc](https://www.directorstalkinterviews.com/ftse-company/glencore-plc/glen.l)
to acquire Sable Zinc Kabwe Limited in Zambia.

Completion of the Acquisition was conditional upon the fulfilment of certain conditions
precedent as contained in the Agreement, of which the approval from the ZCCPC remains
the only outstanding CP. The official recommendation in support of the Acquisition,
issued by the technical committee of the ZCCPC, is a very positive step in securing
an accelerated approval from the executive board of the ZCCPC. 

During this interim phase Jubilee continues to progress the project with the finalisation
of the detail process design and securing further long lead items for the implementation
of the feed material’s pre concentration prior to the refining of the metals at 
the Sable Zinc refinery.  Jubilee also continues to engage with various potential
suppliers of run of mine zinc rich material within the Kabwe region. The supply 
of such high-grade zinc material offers the potential to increase the targeted zinc
units per feed ton to optimally utilise the refining capacity. 

**DCM operation – chrome (South Africa)**

The DCM fine chrome project continues to ramp-up successfully following the commissioning
of the facility during Q1 2019. The project exceeded the production of 3,800 tonnes
of saleable chrome concentrate for May 2019 with 5,000 tonnes of chrome concentrate
targeted for June 2019.  Jubilee expects to complete the production ramp-up phase
by July 2019.

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