Jubilee Metals Group Reports Strong Q1 FY2024 Operational Performance

Jubilee Metals Group PLC, a leading metals processing company with operations in Africa, has released its Q1 FY2024 operational report, showcasing robust performance and a positive outlook for the year.

Operational Highlights:

Chrome concentrate production in Q1 FY2024 reached 336,683 tonnes, with expectations of further growth due to additional processing capacity.
Inyoni’s PGM production increased to 10,113oz, with the potential for further growth.
Copper cathode and copper in concentrate production was 934 tonnes, although a project upgrade may cause disruption until December 2023.
Improved safety with reduced Lost Time Frequency Injury Rates (LTFIR) in both South Africa and Zambia.
Stable chrome revenue per tonne and increasing margins from new partnership agreements.
Increasing PGM revenue per ounce and controlled cash costs.
Slight changes in copper revenue and cost per tonne.
Project Highlights:

South Africa:

Expansion of chrome processing capacity by 450,000 tonnes per annum.
Ongoing discussions for Life-Of-Mine (“LOM”) partnerships and additional processing modules.
Zambia:

Securing the first Life-Of-Mine copper ore off-take agreement for copper processing modules.
Utilizing copper waste materials and historical processed copper tailings.
Implementation of Glycine Leaching Technology for copper recovery from tailings.
Commercial review for tailings recovery project.
Jubilee Metals Group CEO Leon Coetzer expressed optimism about the company’s future, emphasizing their strategic vision, commitment to safety, and continuous efforts to unlock value from materials previously considered waste.

Jubilee’s operational margins across segments demonstrate their strategic foresight and commitment to growth and innovation.

The Q1 FY2024 report affirms Jubilee Metals Group’s strong operational performance and positive outlook for the year ahead.