• Recovers Platinum and other metals from tailings
  • Has contracts with miners in South Africa and Zambia
  • Annual production forecast to rise to 60,000oz PGMs

What Jubilee Metals does:

Jubilee Metals PLC (LON:JLP) is exclusive partner to recover Platinum Group Metals (PGMs) at Hernic in South Africa, the world’s fourth-largest integrated ferrochrome producer with an estimated 3.2mln tonnes of Platinum rich material at surface and an additional 17 000 tonnes being added.

At DCM in South Africa, Jubilee also holds the exclusive right to all PGMs currently at surface and from future mine production plus a 50% profit share on all chrome recovered.

There is an estimated 700 000 tonnes of Platinum and chrome rich material at surface.

Meanwhile, at PlatCro also in South Africa, there is some 1.45mln tonnes of Platinum rich material at surface and that is rising by an estimated 12,000 tonnes per month.

The target is for a 60,000 tonnes per month processing rate. Northam is to fund the refurbishment of Platinum recovery circuit at PlatCro.

And the Tjate Platinum Project back in South Africa has targeted exploration 70mln ounces of PGMs over three farms

In Zambia, the Kabwe lead, zinc and vanadium project has about 6.4mln tonnes of surface material containing an estimated 356,843 tonnes of zinc and 351,386 tonnes of lead.

Thre is also a potential 25,000 tonnes of copper per annum from tailings in the country.

How it’s doing

Jubilee reported a 132% rise in total revenue for the twelve months ended June 30, 2020, up to £54.8mln from £23.6mln.

The group’s underlying earnings jumped by 132% to £22.6mln. Cash flow from operating activity was described as strong at £19.4mln versus £4.76mln in 2019.

During the period, it paid £9.2mln in cash to acquire the Sable Zinc Refinery in Kabwe, Zambia, which is located next to large stockpiles of zinc, lead and vanadium that the company has contracted from BMR Group.

Operationally, Jubilee set company records for production at 40,743 ounces of Platinum group metals (23,847 ounces in 2019), 

“This reporting period again showcases the strength and resilience of Jubilee’s business strategy with sustained, strong growth in all aspects of the company despite the unprecedented challenges faced as a result of the COVID-19 pandemic,” chief executive Leon Coetzer said in the results statement.

What the boss says: Leon Coetzer

“Jubilee’s achievements in the chrome industry in particular, with the introduction of its in-house developed Fine Chrome recovery plant and its state of the art Inyoni PGM recovery plant, are examples of The Jubilee Way in action.

“As a product of these achievements, Jubilee is also seeing an increase in approaches from established industry players looking to partner and work with Jubilee in order to improve overall operational efficiencies and target previously discarded metal values.

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