|
JBL
JUJLP
JBL - Jubilee Platinum Plc - Jubilee enters into a Joint Venture ("JV") with
Benhaus Mining (Pty) Ltd
Jubilee Platinum Plc
AIM: JLP
JSE: JBL
Registration number: 4459850
ISIN: GB0031852162
("Jubilee" or "the Company")
Jubilee enters into a Joint Venture ("JV") with Benhaus Mining (Pty) Ltd
Jubilee, the AIM quoted and JSE listed mining exploration and development
Company is pleased to announce a strategic alliance between Jubilee`s 65% owned
subsidiary Maude Mining and Exploration (Pty) Ltd ("Maude") and Benhaus Mining
(Pty) Ltd ("Benhaus") in the form of an unincorporated joint venture ("JV") in
respect of farms located in the western limb of the Bushveld complex.
Maude will hold a 54.5% stake and Benhaus a 45.5% stake in the JV. Benhaus will
vest all its Chrome and PGM rights on portions 22 and 23 of the farm Elandsdrift
497JQ ("Elansdrift") and Maude will vest all its Chrome and PGM rights on the
farm Elandsdrift and its PGM rights on the farm Bokfontein 448jQ into the JV.
The two farms are located in the western limb of the Bushveld complex. The JV
will establish operations on the surface expressions of the chrome ores while
establishing facilities to extract the PGM`s from the tailings.
The initial work will focus on metallurgical testwork, plant design and
financial modelling to construct a tailings re-treatment plant. The JV presents
the opportunity for both primary mining for chrome coupled with tailings re-
treatment for PGM`s. In the short term, studies will be undertaken following
which a decision will be taken whether to progress the projects.
Colin Bird, Chief Executive of Jubilee comments, "We are particularly pleased to
have entered into this alliance. The decision to partner with Benhaus is based
upon their operating expertise and complementary asset base. The partnership
will allow the JV to fast track the exploitation of a number of short term
production opportunities in both opencast mining and tailings re-treatment. The
current climate has seen us accelerate this opportunity as it will bring Jubilee
into early PGM production while waiting for the metal prices to recover."
Ben Botha, Chief Executive of Benhaus comments, "We look forward to working with
Maude on our western Bushveld opportunities. We have an excellent track record
of opencast mining in the area and our joint properties should facilitate early
cash flow."
For further information please contact:
Colin Bird Nick Rome/Michael Kinirons
Jubilee Platinum plc Bishopsgate Communications Ltd
Tel +44 (0) 20 7584 2155 Tel +44 (0) 20 7562 3350
Andrew Sarosi Jan Bosch / Paul Brett
Jubilee Platinum plc Investec Bank (UK) Limited
Tel +44 (0) 1752 221937 Tel +44 (0) 20 7597 5000
Date - 4 November 2008
Sponsor:
Investec Bank Limited
2 Gresham Street
London EC2V7QP
04 November 2008
Sponsor: Investec Bank Limited
Date: 04/11/2008 13:30:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
