March 22, 2016 - Jubilee Platinum to commence construction on PGM recovery plant via US$8M debt funding
Jubilee Platinum uses $8M of debt funding secured from investors arranged by RiverFort Global Capital to enable the commencement of construction of one of the world’s most advanced metal recovery plants.
The plants will recover platinum-group metals from the waste product of the Mitsubishi-Hernic ferro-chrome plant mine, the 4th largest operation of its type globally. Jubilee Platinum is implementing a very progressive strategy that improves the net operational earnings for Hernic, provides a long term income stream and positions the company as a world leader in the profitable recovery of metals from mining waste.
Residual metal in mining waste is a large global market that historically has seen under-investment. In the opinion of RiverFort Global Capital investors, Jubilee Platinum’s advanced technological skills, intellectual property and experience put it in a leading position to transform this sector in a globally significant market, using methods that are sustainable from an environmental and societal perspective.