Jubilee Platinum enters into a US$50M strategic project finance agreement
August 09, 2017
Based on the success of its Mistubishi-Hernic project which was financed by RiverFort Global Capital, Jubilee Platinum enters into a $50M, 3-year strategic project finance agreement with a syndicate of investors managed by RiverFort Global Capital to expand on its world-leading position in the profitable recovery of metals from mining waste. The RiverFort syndicate will provide senior-secured (non-equity) asset finance to projects sourced, diligenced and operated by Jubilee Platinum. The funding will allow Jubilee Platinum to accelerate towards unlocking a significant portion of the large global potential that exists in the reprocessing of surface materials. Benefits of this strategy include (1) a long-term income yield linked to the success of each recovery plant, (2) targeting by each recovery plant of production costs in the lowest quartile on a global basis, reducing the impact of any future market correction and (3) positive environmental benefits of each recovery plant leading to increasing opportunities as regulatory authorities and reputational pressure lead to more mining companies seeking sustainability solutions.