Jubilee Metals Group has delivered a bold display of resilience and strategic clarity, reporting a powerful uplift in revenue despite sector headwinds. With chrome production driving exceptional growth, the company is navigating pricing pressure and operational challenges with a focused plan that sets the stage for long-term investor value.
For the six months ending December 2024, Jubilee Metals Group reported a 51% rise in group revenue, reaching $141.5 million—primarily fuelled by a substantial increase in chrome output. This surge came despite a 6.8% dip in EBITDA, reflecting the effect of softer chrome pricing on margins. In South Africa, chrome revenue climbed by a striking 75.9%, supported by the rollout of new processing modules that have materially lifted production volumes. Meanwhile, the company made a strategic decision to prioritise chrome, resulting in a temporary decline in PGM revenue.
In Zambia, copper revenue saw modest growth, though profitability was tempered by intermittent power outages and elevated costs. Jubilee is proactively tackling these issues through newly signed power agreements aimed at stabilising operations and unlocking consistent output. Importantly, the company remains bullish about the prospects for its copper division, with access to higher-grade feedstock expected to significantly enhance future production.
Despite macroeconomic and operational hurdles, Jubilee’s forward strategy is already showing traction. The company confirmed that its South African operations remain on track to meet chrome and PGM production targets for the 2025 financial year—an encouraging signal for investors watching long-term delivery.
Jubilee Metals Group plc (LON:JLP) is a diversified metal recovery business with a world-class portfolio of projects in South Africa and Zambia. The Company’s expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals, chrome, lead, zinc, vanadium, copper and cobalt.
