Jubilee posts higher PGM output in H1

Base and precious metals miner Jubilee Metals has announced a strong performance in the six months ended December 31, 2022, with a 20% increase in platinum group metals (PGMs) produced from own operations and chrome production exceeding its guidance.

The company’s adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) reduced to £11.8-million, compared with adjusted Ebitda of just under £15-million reported in the six months ended December 31, 2021, owing to lower PGM and copper prices.

Notably, the PGM basket price was down 11% to $1 453/oz in the reporting period, which was partially offset by PGM operational cost management and production output.

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.

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