Jubilee’s increased processing capacity to 250 000 tonnes of chrome ore

In November 2020 Jubilee commenced the construction of an additional 80 000 tonnes per month OBB Chrome Plant, which on completion increased Jubilee’s overall processing capacity to 250 000 tonnes of chrome ore and tailings per month. The facility consists of four integrated chrome recovery circuits to maximise chrome efficiencies, which includes Jubilee’s fine chrome operation.

The final integration of the new OBB Chrome Plant into the new and upgraded Inyoni PGM facility was completed in November 2021. The operational levels of the OBB Chrome Plant were largely maintained during the rebuild and commissioning of the new Inyoni facility with the produced PGM discard from the OBB Chrome Plant stockpiled for later reintroduction into the new fully integrated chrome and PGM facility.

Chrome operational earnings for H2 CY2021 increased by 15%, to £ 2 million from H2 CY2021. Chrome revenue for H2 CY2021 increased by 28% to £ 30 million from H2 2021.

Chrome prices continued to be volatile during the period under review due to the disruptions in the supply chain over the sixth-month period. These price fluctuations are expected to continue over the next six months as the world emerges from the Covid-19 pandemic and supply and demand fundamentals are better matched.