20th Feb 2014 14:23
LONDON (Alliance News) - Jubilee Platinum PLC Thursday said that the national energy provider of South Africa has reinstated a private power purchase agreement the company's subsidiary Power Alt Pty Ltd entered into on December 2012.
The mining company said its subsidiary will start supplying all surplus power capacity from its power plant with immediate effect.
Jubilee Platinum said it expects to deliver roughly 5 megawatts of power to the grid, which equates to an expected revenue of GBP195,000 per month.
The company said the term for the reinstated agreement is yet to be finalised, but the contract is driven by continued pressure on the supply of power to the national grid in South Africa.
Jubilee Platinum shares were up 1.2% to 2.1 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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