Jubilee Metals has achieved substantial progress in its South African operations, with notable increases in the production of chrome and platinum group metals (PGMs) during the first quarter of FY 2025. These well-established operations continue to surpass targets, reflecting the company’s efficiency and consistent performance. Chrome concentrate production rose by 8% to 455,381 tonnes during the quarter ending 30 September, exceeding expectations, while PGM output reached 9,328 ounces, aligning with the company’s guidance. Jubilee highlighted the exceptional performance of its chrome operations and announced that new processing modules at Thutse are expected to further boost production in the second half of the financial year.
In Zambia, Jubilee is replicating its South African success by establishing two key processing hubs: the Sable refinery and the Roan concentrator. This quarter was a turning point for the copper operations, as the company successfully met ramp-up targets, ensuring a strong base for future growth. Enhanced milling and flotation circuits at Roan have improved operational flexibility, enabling high-grade concentrate production. A new private power agreement has provided stable electricity, allowing the concentrator to operate at a steady rate of 75,000 tonnes per month, with plans to increase to 90,000 tonnes in upcoming quarters.
Copper recovery is currently aimed at 55%, equivalent to approximately 6,200 tonnes annually, with potential increases to 13,000 tonnes per year by FY 2026 as on-site leaching operations commence. The Munkoyo mine reached its October target of 100,000 tonnes of mined material, and newly acquired Project G delivered its first copper concentrate as scheduled. Projects Phoenix and L continue to provide consistent feed to Roan, ensuring uninterrupted operations.
Despite challenges such as national power outages, Jubilee maintained copper production, achieving 744 tonnes of copper units and securing 3,538 tonnes of contained copper for future processing. The company remains on track to meet its full-year goal of producing approximately 6,000 tonnes of copper. CEO Leon Coetzer expressed confidence in the company’s progress, citing strong results in South Africa and Zambia despite operational challenges. He emphasised the critical milestones reached in copper production and the robust performance of chrome and PGM operations.
Looking forward, Jubilee is focused on maintaining growth in South Africa while driving copper expansion in Zambia. The company aims to achieve 5,850 to 7,500 tonnes of copper production by year-end, alongside 1.65 million tonnes of chrome concentrate and 36,000 ounces of PGM output. Coetzer reaffirmed Jubilee’s commitment to its growth strategy, highlighting the strong operational foundation provided by Roan, Sable, and recent successes at Munkoyo and Project G, positioning the company for significant future expansion.
Jubilee Metals continues to demonstrate strong operational performance and strategic growth. By overcoming challenges and exceeding production targets, the company has laid the groundwork for sustained success in both South Africa and Zambia, with promising developments expected in the near future.
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.
