Jubilee disposing of South Africa assets to fixate on more alluring Zambia opportunities
Diversified mining company Jubilee Metals has decided to dispose of its chrome and platinum group metals (PGM) business in South Africa to focus fully on Zambia, where the directors believe there are material opportunities to deliver growth at the existing sites by expanding the portfolio of copper-producing assets. This follows the receipt by the Johannesburg AltX- and London AIM-listed company of a conditional binding offer from a private mining and metals trading company to acquire the group’s chrome and PGM operations in South Africa for up to $90-million, payable through a combination of upfront cash and deferred cash over three years.
Diversified mining company Jubilee Metals has decided to dispose of its chrome and platinum group metals (PGM) business in South Africa to focus fully on Zambia, where the directors believe there are material opportunities to deliver growth at the existing sites by expanding the portfolio of copper-producing assets. This follows the receipt by the Johannesburg AltX- and London AIM-listed company of a conditional binding offer from a private mining and metals trading company to acquire the group’s chrome and PGM operations in South Africa for up to $90-million, payable through a combination of upfront cash and deferred cash over three years.
