Jubilee acquires more PGMs tailings material

Jubilee Metals has acquired the rights to an additional 944 000 tonnes of platinum-group metals- (PGMs-) containing tailings on the Eastern Limb of the Bushveld Complex.
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 in the Western Limb.
It said the acquisition was 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.
“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,” said Jubilee chief executive Leon Coetzer.
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.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished