In a report by specialist materials company Johnson Matthey (LON: JMAT) it states that due to a deficit in the palladium market its driven prices of the metal and its only going to go higher. Palladium prices have surged by around 70 percent in the last six months to record highs above $1,400 an ounce. Now with stricter emissions standards this will increase demand for palladium for catalytic converters, and despite an increase in recycling, supply will struggle to keep up.
Jubilee Metals Group CEO Leon Coetzer said:
“Palladium forms nearly 40% of our revenue at the Hernic project and is a great indicator for the Jubilee’s project earnings.”
Jubilee Metals Group Plc (LON: JLP) is a diversified metals recovery company with a focus on reprocessing of historical surface mine waste and materials. The Company has secured surface platinum-bearing tailings to recover PGMs and chromite, lead, zinc and vanadium bearing tailings in Zambia and holds the mining right (granted March 2017) to a primary PGM project in the Eastern Bushveld complex. The company has several projects including its Hernic Operations in South Africa. The Hernic operation continues to deliver a strong performance maintaining its proud record of performance improvement quarter on quarter since commissioning in 2017.
Jubilee’s shares are traded on the AIM Market of the London Stock Exchange and the South African Alt-X of JSE Limited.
