By: Creamer media

The firm replaces RBC Capital Markets as joint broker and will work alongside Zeus Capital to support Jubilee in its capital markets activities and investor relations.

Jubilee has a long-standing relationship with the firm.

On June 5, Mining Weekly reported that Jubilee had decided to dispose of its chrome and platinum group metal (PGM) business in South Africa to focus fully on Zambia, where the directors see material opportunities to deliver growth at the existing sites by expanding the portfolio of copper-producing assets.

This followed Jubilee’s receipt of a conditional binding offer from a private mining and metals trading company to acquire the group’s chrome and PGM operations in South Africa for up to $90-million, payable through a combination of upfront cash and deferred cash over three years.

Jubilee and the buyer are now actively working together to finalise the sale agreements. The company expects to post a circular containing the full details of the proposed disposal in the last week of July.