Jubilee to acquire chrome ore company

[miningmx.com] — Mining exploration and development company JUBILEE PLATINUM PLC, which is listed on London’s AIM and the JSE, on Tuesday unveiled plans to acquire a company that treats chrome ore in the platinum-rich western Bushveld.

Jubilee said it had a binding memorandum of understanding for the acquisition of the operating company and an associate company, which holds certain mining and prospecting rights.

“This memorandum falls in line with Jubilee’s strategy of acquiring near-term platinum mining opportunities to produce platinum concentrate for our Middelburg processing facility,” said Jubilee CEO Leon Coetzer.

It is anticipated that the formal agreements will be concluded by the second quarter of this year.