Jubilee Platinum is expecting to boost revenue by R5.5 million (£500,000) a month thanks to its new Middleburg furnace.

Commissioning activities have commenced with the first alloy production expected during the first week of July, the firm said in a statement.

The new 5MW furnace's targeted throughput is initially set for 1,700 t/m of feed material before ramping up to 2,200 t/m.

Jubilee chief executive officer Leon Coetzer said the furnace will "significantly enhance the company's near-term revenue generation".

He added: "We are now able to fully capitalise on our unique processing abilities through our access to the ConRoast process, such as our focus on near surface platinum bearing
chrome reefs.

"This affords Jubilee near term access to own platinum for our processing plant in Middelburg while we continue the development of the Tjate project in the longer term."

An application for a mining right for the Tjate project has been submitted to the South African Department of Mineral Resources.

Jubilee said it is ready to go with the scoping report and environmental impact assessment for this mine upon acceptance of its proposals.

Meanwhile, Jubilee's Braemore Platinum Resources has submitted applications for both platinum group metal and chrome prospecting rights for 69 farms near the town of Brits in the western limb of the Bushveld Complex.

Source:

New Middelburg furnace to boost Jubilee revenue (20/06/11) 

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