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The company plans to move its operations sited at the Dilokong Chrome Mine (DCM) in
Limpopo Province to the much larger Inyoni or Windsor chrome operations in Bushveld Complex towards the end of August 2020.
Jubilee has reached an agreement with DCM, a joint venture between Sinosteel and Samancor, to terminate operations there given the current supply chain disruptions and restrictions on imported goods and services.
The decision followed a review of how to optimise earnings and took into account that Jubilee's chrome processiong facilities are all fully operational apart from the plant at DCM, where operations remain suspended.
Jubilee restarted its Inyoni and Windsor processing facilities on 17 April.
Jubilee holds rights to 850,000t of platinum and chrome rich tailings material at DCM's surface, which contains an estimated 170,000t of chrome and 74,000oz 4E (platinum group metals plus gold), according to the company's website. These rights will not be affected by the relocation of the plant.
The termination conditions include DCM contributing to the disassembling cost of the fine chrome facility and the company committing to complete the disassembly before the end of August 2020. The firm expects no material impact on its earnings during the relocation.
