Jubilee Metals is making progress in negotiations to establish additional Life-of-Mine (“LOM”) partnerships. Concurrently, the Company is focusing on expanding its chrome operations through the implementation of one additional processing module.
This initiative is part of the Company’s strategic plan to achieve a future annual chrome concentrate production milestone in excess of 2 million tonnes per annum.
This expansion will be approximately US$6 million, funded through cash generated by the chrome operations, the commencement of the project is subject to our internal capital and funding approval processes.
The success of the Thutse Project has motivated the further expansion of the Thutse operations by implementing a further 50 000 tonnes per month feed processing unit at Thutse. This expansion takes Jubilee a step closer towards achieving a targeted 2.1 million tonnes per annum of chrome concentrate.
It is expected that the additional chrome module will be implemented during Q3 CY2024 and is capable of producing an additional 300 000 tonnes of chrome concentrate per annum.