Jubilee Metals Boosts PGM Output Through Strategic Partnership in South Africa
AIM- and AltX-listed Jubilee Metals has signed a 12-month partnership agreement with an undisclosed platinum group metals (PGM) producer to process surplus PGM- and chrome-bearing material from its South African operations.
The agreement follows a significant increase in chrome concentrate production, which reached a record 974,659 tonnes for the six months ending December 31, 2024.
The rise was driven by the commissioning of two new chrome processing modules at the company’s Thutse operations.
The higher chrome output led to an accumulation of PGM-rich surface stock, prompting Jubilee to seek a partner instead of expanding its own PGM processing capacity.
Partnering with an existing PGM producer allows Jubilee to increase its production without additional capital expenditure.
Under the terms of the deal, Jubilee will supply 18,000 tonnes per month, with the potential to scale up to 30,000 tonnes monthly. At maximum capacity, this could yield an estimated 11,500 ounces of PGMs annually, boosting Jubilee’s overall PGM output by up to 32%, based on its 2025 production guidance.
Earnings from the project will be split equally between Jubilee and its partner. The agreement includes an option to extend the partnership beyond the initial 12-month period.
Meanwhile, Jubilee continues to run its Iyoni PGM operations at full capacity, reinforcing its strong position in South Africa’s chrome and PGM sectors.
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