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Thursday, October 18, 2012

Jubilee to sell electricity to Eskom

JOHANNESBURG (miningweekly.com) – Aim- and JSE-listed Jubilee Platinum has received approval from the National Energy Regulator of South Africa to start selling electricity to national power generating company Eskom.

Sales of electricity are expected to start on October 26.
Jubilee currently has a 51% interest in power generating company Power Alt and as previously announced has entered into a process of acquiring an additional 19% interest.

CEO Leon Coetzer said exposure to the profitable sale of surplus power by Power Alt increases the company's earnings potential and profitability. “We are focused on growing cash flows and this is another important step, helping to underpin our growth potential.”

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