Jubilee says ConRoast project remains on track for year-end


Jubilee says ConRoast project remains on track for year-end 
JOHANNESBURG (miningweekly.com) – JSE- and Aim-listed Jubilee Platinum on Wednesday reported that it had successfully negotiated delivery times for long-lead items to ensure that the new ConRoast 5 MW DC Arc furnace remained on track for the fourth quarter of 2011.

CEO Leon Coetzer said that improved delivery times for key items on the critical path of the ConRoast project, which forms part of the second phase of the Middelburg facility expansion, have been successfully concluded.

“Orders would be placed on receipt of written confirmation of these delivery times. Jubilee has concluded the submission of all relevant environmental applications to ensure the project remains on track,” he noted.

Jubilee reported that the existing ferroalloys processing infrastructure at Middelburg was in full use and contributing to short-term cash flows.

Coetzer added that numerous small-scale near-term mining opportunities were being presented to Jubilee, owing to its ConRoast smelting capability to treat chrome-bearing platinum concentrates.

“These opportunities are in-line with our focus on building our mine-to-metal business strategy,” he pointed out.

Meanwhile, the first stage of the infill-drilling programme for the Tjate project was completed with exceptional results achieved. The final modelling of data was in progress.

Coetzer said that drill data confirm continuity of Merensky and Upper group 2 (UG2) reefs, with significantly improved grade and thickness for the UG2 reef. The results encouraged the company to apply for a mining right for Tjate.

Phase two of Tjate's three-phase feasibility study was progressing to schedule and completion was targeted for the end of the second quarter.

Drilling at its Ambodilafa concession, in Madagascar, would also start soon.

Edited by: Mariaan Webb 
http://www.miningweekly.com/article/jubilee-says-conroast-project-remains-on-track-for-year-end-2011-03-09
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