Jubilee Platinum (JUBPF.PK) is selling down its stake in its ferroalloy subsidiary Jubilee...

|About: Jubilee Platinum plc (JUBPF)|By:, SA News Editor

Jubilee Platinum (JUBPF.PK) is selling down its stake in its ferroalloy subsidiary Jubilee Smelting and Refining, for $14M to Global Renewable Energy. The first tranche of the sale includes 65% of ferroalloy group JSR and 40% of power generator PowerAlt. Jubilee, which is in the process of buying Platinum Australia (now scheduled for June 10), intends to use sale proceeds to focus on its core metal. (Platinum ETFs: PLTM, PPLT)