Jubilee Metals Group, the AIM and Altx traded metals processing company, has announced that it has executed a processing agreement whereby Jubilee has been appointed as operator to re-commission and operate the existing run of mine chrome beneficiation plant adjacent to its Inyoni Operations.

The processing agreement is backed by a guaranteed supply of a minimum of 40,000 t per month of chrome and PGM containing ROM which has the potential to be increased to 80,000 t per month. The PGM bearing tails produced by the chrome plant will be further processed at Jubilee‘s adjacent Inyoni PGM recovery plant. The PGM rich tails, which will be produced under the processing agreement and supplied to Inyoni, are in addition to the existing PGM tailings resources already owned by Jubilee and the PGM tails produced by its Windsor operations.

The processing agreement not only significantly extends the life of the existing PGM resource but also offers the potential for Jubilee to significantly expand its Inyoni Operations and it is currently reviewing the expansion of Inyoni to reach 3,500 PGM ounces per month. The designs for the expansion are currently being considered by Jubilee and if approved will be funded by the company.

Leon Coetzer, CEO of Jubilee, commented: “Jubilee has, through the processing agreement, further strengthened the sustainability of its operating capacity and earnings base in South Africa. Our specialist processing solution which recovers chrome and PGMs from feed materials and discard, as well as our access to unique processing solutions and intellectual property, make Jubilee an internationally recognised metals recovery company. We continue to strive toward ensuring that our operations are constantly supplied with quality feed sources allowing them to operate at full capacity, whilst at the same time significantly increasing our surface PGM resources from the discard of the chrome operations. The processing agreement secures up to 80,000 t of ROM feed for our Inyoni Chrome plant for the next eight years in addition to the already 95,000 t per month of chrome processing capacity secured at our Windsor Chrome plant and new Windsor 8 facility as previously announced. Jubilee now has the ability to produce in excess of 90,000 t of saleable chrome concentrate per month under protected operational margins and adding to its existing PGM resources.”