Publications
Partners
Johannesburg - Jubilee [JSE:JBL] Middelburg Smelters achieved a new record production rate and Jubilee secured an equity financing facility in support of targeted acquisitions.
The company achieved more than 35 tons of Ferronickel metal within a single 24-hour shift - exceeding the previous record of 26 tons of metal.
This achievement comes following the company's announcement on December 23 2013 that it had secured funding for the final phase of the smelter renewable program, which includes the expansion of the Middelburg Smelter operation to three operating ARC furnaces.
Two of these furnaces will be dedicated to the production of ferronickel metal and the third furnace to the production of ferrosilicon metal, thereby increasing the total targeted smelter design capacity to 13 900 tons of metal per annum. All three furnaces have been fully contracted.
With proceeds in place to fund the commissioning of the remaining third ARC furnace at Middelburg, the board of Jubilee believes that the Middelburg Smelter is in a strong position to enhance its earnings profile.
With a view to expanding its access to platinum containing material, Jubilee also announced that it has entered into a £10m equity finance facility (EFF) with Darwin Strategic. The EFF can be utilised by the company, at its sole discretion, over a commitment period of 60 months.
The EFF has been secured by Jubilee in support of its mine-to-metals strategy and more specifically towards potential acquisitions targeted by the company in the platinum and other metals industry with a view to fur- ther utilising the ConRoast process.
The EFF will replace the current equity based funding structure held by Jubilee.
The company achieved more than 35 tons of Ferronickel metal within a single 24-hour shift - exceeding the previous record of 26 tons of metal.
This achievement comes following the company's announcement on December 23 2013 that it had secured funding for the final phase of the smelter renewable program, which includes the expansion of the Middelburg Smelter operation to three operating ARC furnaces.
Two of these furnaces will be dedicated to the production of ferronickel metal and the third furnace to the production of ferrosilicon metal, thereby increasing the total targeted smelter design capacity to 13 900 tons of metal per annum. All three furnaces have been fully contracted.
With proceeds in place to fund the commissioning of the remaining third ARC furnace at Middelburg, the board of Jubilee believes that the Middelburg Smelter is in a strong position to enhance its earnings profile.
With a view to expanding its access to platinum containing material, Jubilee also announced that it has entered into a £10m equity finance facility (EFF) with Darwin Strategic. The EFF can be utilised by the company, at its sole discretion, over a commitment period of 60 months.
The EFF has been secured by Jubilee in support of its mine-to-metals strategy and more specifically towards potential acquisitions targeted by the company in the platinum and other metals industry with a view to fur- ther utilising the ConRoast process.
The EFF will replace the current equity based funding structure held by Jubilee.
