The companies have joined forces to offer a total processing capability for processing and refining of low-grade and high-chrome concentrate PGM tailings or hard rock resources.

Their partnership is focused on the world's largest PGM-producing region, the Bushveld complex in South Africa.

Two new companies will be incorporated to undertake smelting and refining activities using ConRoast technology and processing of future PGM tailings opportunities.

Jubilee CEO Colin Bird said, 'These new companies combine the joint operating capability of Jubilee and Sylvania to take PGM containing dump material into metal.

'The ongoing arrangement provides the platinum industry with a formidable total capability solution for the processing of PGM tailings and high chrome concentrates.

Sylvania's MD Terry McConnachie added, 'The formation of the joint venture companies offers Jubilee and Sylvania the benefit of fully exploiting the synergies offered by a mine-to-metal strategy free of the traditional constraints imposed on high chrome, or relatively low grade concentrates.

'This in turn is a significant step in unlocking the value of the assets acquired under the takeovers of Great Australian Resources and SA Metals last year.'

The smelting company will be split 70% Jubilee and 30% Sylvania, while the tailings processing company will be owned 50-50.