Jubilee Platinum subsidiary rejects BHP Billiton termination notice

Mine-to-metals specialist Jubilee Platinum announced on Wednesday that its subsidiary, Braemore Nickel, has received a notice of termination of the Tailings Supply Agreement dating back to 2005 relating to the Leinster Nickel Operations in Western Australia, from BHP Billiton.

The AIM-traded firm said Braemore has informed BHP that it rejects the termination notice since it believes no factual or legal basis exists for such termination.

Braemore has been continuing with the internal review of the nickel tailings project with the aim of improving the viability of the project as part of the economic evaluation of the project.

“This nickel tailings project does not form part of Jubilee's earnings nor has any influence on the execution of Jubilee's platinum and chrome projects,” its board said in a statement.

“Jubilee continues to pursue further tailings opportunities to add to its existing platinum and chrome projects and looks forward to updating the market in due course.”

Jubilee, through its tailings processing subsidiaries, said it continues successfully to develop and implement innovative processing solutions for the recovery of metals and minerals from various tailings materials.

It said those innovations and progress offer “significant opportunities” across the tailings recovery spectrum.