17th Apr 2020 10:26
(Alliance News) -Â Metals processing company Jubilee Metals Group PLC on Friday said its operations have recommenced in "strict adherence" to updated South African lockdown rules.
The company's Inyoni Surface platinum group metals and chrome operation has recommenced production, and the Windsor joint venture is preparing to recommence production shortly.
This follows the temporary shutdown of its South African operations under the country's 21-day lockdown announced in March, which has now been extended a further 14 days though with a relaxation of some rules.
The South African government on Thursday said that mining companies will be able operate at up to 50% capacity, and production will be phased in to avoid a rush back to work.
"Jubilee is reviewing the situation with regard to its further chrome operations which currently remain on hold as a result of the pandemic. Further updates will follow in parallel to any new developments and announcements by President Ramaphosa during the lock down period in South Africa," the firm said.
Its Zambian Kabwe operation continues to operate its copper refinery with all other project related work on hold.
Jubilee Metals shares were up 14% at 3.2 pence in London on Friday, while in Johannesburg the stock was up 7.7% at ZAR0.70.
By Lucy Heming;Â [email protected]
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