Jubilee Metals South Africa Chrome Project Expansion Update

Jubilee Metals Group, a leader in diversified metals processing, with operations in Africa, has provided an update on the chrome joint venture (“JV”) in South Africa.

PGM and chrome expansion

• Successful upgrade, implementation and commissioning of an existing brownfield processing facility, on the western limb of the Bushveld Complex, has now been completed reaching targeted operational output.
• As announced on 6 June 2023, the long-term chrome processing partnership provides the potential for additional chrome processing capacity of 360 000 tonnes per annum targeting an additional 200 000 tonnes of chrome concentrate and adding an additional 10 000 PGM oz per annum to Inyoni’s profile.
• The expansion of the chrome operations comes at an opportune time with supportive chrome pricesand strong market support further extending operating margins:
  • A total of 24 500 tonnes of newly produced final chrome product already traded and on track to trade an additional 17 000 tonnes of metallurgical grade per month
• Expected to contribute an additional 60 000 tonnes of chrome concentrate for the half year ending Dec 2023 and 4000 PGM oz.
• The Company is in advanced discussions to conclude its next partnership agreement targeting an additional 600 000 tonnes per annum processing capacity.