Jubilee Metals Achieves Record Chrome Production
Jubilee Metals, listed on both the AIM and ASX, has achieved remarkable milestones in its South African chrome operations, marking record production levels for both the month of March and the quarter ending March 31, the third quarter of the company’s 2024 financial year.
Chrome output totaled 408,710 tonnes for the quarter, up from 381,114 tonnes in the previous quarter, with a record monthly production of 145,102 tonnes in March alone.
The company’s chrome concentrate production for the nine months ended March 31 saw a significant increase of 19.2% year-on-year, reaching 1.12 million tonnes compared to the previous year’s 944,832 tonnes.
Jubilee’s South African chrome operations are set to expand further with the completion of a second chrome processing module at the Thutse project, expected in August.
While platinum group metal (PGM) production saw a slight decrease quarter-on-quarter, copper production experienced growth, albeit impacted by scheduled construction activities in Zambia.
Despite logistical challenges, Jubilee remains committed to expanding its copper operations in Zambia and is on track to exceed its initial copper production targets over the next two years through strategic partnerships and project developments.
CEO Leon Coetzer praised the exceptional performance of the South African chrome team and emphasized the company’s commitment to replicating its success in Zambia.
With ongoing expansions and strategic initiatives, Jubilee Metals continues to position itself as a key player in the chrome and copper mining sectors, demonstrating its potential for sustained growth and value creation.
