LEON Coetzer talks a good story, but Jubilee Platinum has never made it out of the little league. This is disappointing for anyone who invested in what was originally Braemore Resources because of the promise of its new environmentally friendly smelting technology, ‘ConRoast’, which addresses processing problems attached to high chrome platinum deposits. ConRoast has not been the company-maker it promised to be, but to be fair, there hasn’t been much profit-making in the platinum sector for several years anyway. Jubilee managed to make money from ferroalloy smelting and power generation, but it has now sold those assets to focus on low-cost platinum tailings retreatment. Coetzer promises this move will avoid some of the challenges of deep-level platinum mining such as labour issues and cost pressures. In the past year, Jubilee has secured a couple of big tailings resources and is planning to bring those into production. These mark “significant milestones” that are going to “bolster” revenue, for a company that has “distinguished itself from its peers”, according to Coetzer. Shareholders have backed the plan by supporting recent capital raisings, demonstrating how persuasive Coetzer can be.
LIFE OF LEON
He was head of process control at Anglo American Platinum before joining Braemore Resources in 2008, which then merged with Jubilee. Coetzer has spent his career managing technical and production units and was the lead engineer for the design of Angloplat’s biggest UG2 concentrator. He holds a degree in chemical engineering from Stellenbosch University.
- Web Address: www.jubileeplatinum.com