JUBILEE Metals Group is to relocate its chrome facilities currently located at the Dilokong Chrome Mine (DCM) to its larger operations at Inyoni and Windsor, the company said today in a statement to the Johannesburg Stock Exchange.
In terms of an agreement with DCM, the mine – which is on care and maintenance owing partly to the COVID-19 pandemic, will assist in dissembling the chrome plant. Jubilee’s rights to process platinum group metals (PGMs) from DCM’s tailings would be unaffected by the decision to relocate the chrome plant.
Jubilee said earnings would not be impacted by the decision. As for DCM, it has indicated it has no immediate plans to restart mining operations, said Jubilee. The relocation process is targeted to be completed towards the end of August 2020, the company said.
The relocation of the chrome plant is a handy option for Jubilee which also reported that the roll-out of its ‘fine chrome solution’ across its operations had been negative affected by current restrictions on the importation of goods and services.
South Africa’s borders are closed in terms of the National Disaster Act which has imposed restrictions aimed at curbing the spread of the COVID-19 virus.
“The remarkable success of our fine chrome facility has proven itself as a leading solution for the recovery of chrome previously regarded as unrecoverable and I look forward to seeing the success replicated at our other operations,” said Leon Coetzer, CEO of Jubilee Metals in a statement.
