IN BRIEF: Jubilee Metals gets $10 million payment after SA disposal

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Jubilee Metals Group PLC - London-based metal processing company - Receives the second cash instalment of $10 million for the sale of its chrome and platinum group metal operations in South Africa. The transaction was completed on Friday last week. In June last year, Jubilee received a ‘conditional binding offer’ from One Chrome (Pty) Ltd to acquire Jubilee’s chrome and PGM assets for up to $90 million, which amounted to around R 1.60 billion at the time. Following this disposal, Jubilee will solely focus on its Zambian copper business, which includes the Molefe open-pit copper mine, Sable refinery and Roan copper concentrator plant. It has stated that it has retained its investment in the Tjate platinum project in South Africa as it continues to explore options to monetise this asset.

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