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Jubilee Platinum appoints former Braemore CEO and chairman to the board

Last updated: 00:40 12 Jan 2010 AEDT, First published: 01:40 12 Jan 2010 AEDT

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Jubilee Platinum (AIM: JLP) has added further experience to its board by appointing the former chairman and the CEO of previously acquired Braemore Resources PLC. Former Braemore chairman Dr Mathews Phosa has joined the board as non-executive director and deputy chairman, while former Braemore Resources chief executive Leon Coetzer has also joined the company as the new managing director of Smelting and Refining.

The emerging platinum company acquired Braemore Resources earlier this year and gained the ConRoast Smelter technology, which unlike more conventional smelting, can process lower grade ore, or ore with high chrome content.

Dr Mathews Phosa is a prominent member of South Africa’s ruling party, the African National Congress (ANC) where he is Treasurer General and also serves on the ANC’s National Executive Committee. Dr Phosa has an extensive track record with experience in both politics and business. As Premier of the Mpumalanga province of South Africa, which hosts approximately 83% of South Africa’s coal mining production, Dr Phosa pioneered planning interaction between the private sector and government between 1994 and 1999.

Leon Coetzer is a chemical engineer who has over 20 years experience in the platinum industry, gained at Anglo American (LSE: AAL).  Coetzer was CEO of Braemore from September 2008 up until Jubilee’s takeover during 2009; as such the company’s new Smelting and Refining MD will have a strong familiarity with Jubilee’s newly acquired ConRoast technology.

Since the completion of the Braemore deal, the AIM listed junior has been making progress with the trialling of the newly acquired technology. In December, Jubilee’s strategic partner Sylvania Resources (AIM & ASX: SLV), confirmed that previously uneconomic low grade platinum group metal (PGM) concentrate was successfully treated through Jubilee’s ConRoast Smelter. The concentrate trialled also contained high chrome content (7%). Sylvania reported that 99% of PGM’s were recovered and that the high chrome content posed no risks.

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