Jubilee generates £4.85m with its surface processing project now in operation
Jubilee Platinum brings Dilokong Chrome Mine into operation, helping it cut its interim six-month loss to end-December to a third of the matching period
Mine developer Jubilee Platinum generated £4.85m interim revenue by bringing its surface processing project Dilokong Chrome Mine (DCM) into operation, it reported on Thursday. In the matching period, interim revenue slumped to £62,000 following the sale of its Middelburg operations. Revenue from DCM helped Jubilee cut its interim loss for the six months to end-December to a third of the matching period’s £1.68m. DCM produced 47,667 tonnes of saleable chromite concentrate during the reporting period, Jubilee said. Jubilee’s Hernic project started producing chrome in February and platinum in March. The group has invested £11.64m to get this project 95% completed, the results statement said. "Jubilee was successful in securing project funding for the execution and commissioning of both of the DCM and Hernic platinum surface projects through a combination of debt and equity funding," CEO Leon Coetzer said in the statement. On March 1, its Tjate platinum project secured its mining right ...
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