Jubilee Metals Reports Strong Growth in South Africa and Zambia Operations
Diversified metals producer Jubilee Metals has reported significant growth in its South African operations, with production increases across chrome and platinum group metals (PGMs) during the first quarter of FY 2025. The company’s South African operations, now well-established, are consistently exceeding targets.
For the quarter ending September 30, chrome concentrate production rose by 8% to 455,381 tons, surpassing the targeted output. PGM production, which includes platinum, palladium, rhodium, ruthenium, iridium, and gold, reached 9,328 oz, aligning with guidance.
“Jubilee’s chrome operations have achieved outstanding performance, exceeding quarterly targets,” the company noted. The new chrome processing modules at Thutse are set to significantly boost production in the second half of the financial year, with commissioning underway.
Expansion in Zambia
Building on its success in South Africa, Jubilee has applied a similar strategy in Zambia, focusing on capitalizing assets to establish two key processing hubs—the Sable refinery and the Roan concentrator.
The quarter marked a pivotal phase for its copper operations, as ramp-up targets were met, laying a solid foundation for sustained output.
The recently completed flotation and milling circuits at Roan enhance operational flexibility, ensuring high-grade concentrate output.
Additionally, a new private power purchase agreement provided stable power, enabling Jubilee to ramp up the Roan concentrator to a steady feed rate of 75,000 tons per month, with plans to increase to 90,000 tons in future quarters.
Copper recovery is initially targeted at 55%, equating to approximately 6,200 tons per year, and could rise to 13,000 tons per year as on-site leaching commences in FY 2026.
The Munkoyo open-pit mine also achieved its target of 100,000 tons of mined material in October. Newly acquired Project G produced its first copper concentrate on schedule, while Projects Phoenix and L have been providing Roan with consistent feed material.
Despite nationwide power disruptions, Jubilee maintained copper production during the quarter, producing 744 tons of copper units and holding 3,538 tons of contained copper for further processing. The company is on track to reach a full-year copper production goal of approximately 6,000 tons.
Jubilee CEO Leon Coetzer expressed confidence in the company’s progress, noting, “We’ve achieved critical milestones in our copper strategy, with chrome and PGM operations performing strongly. In Zambia, we’ve laid a solid foundation for future copper growth, navigating challenges such as the national power crisis.”
The company aims to deliver between 5,850 and 7,500 tons of copper by year-end, supported by increased output from Roan and Munkoyo. Chrome concentrate production guidance remains at 1.65 million tons, and PGM output is expected to reach 36,000 oz.
Looking ahead, Jubilee plans to continue executing its growth strategy in copper while maintaining momentum in South Africa. Coetzer added, “With two fully operational processing plants at Roan and Sable, complemented by successful developments at Munkoyo and Project G, our copper business is poised for exceptional growth.”
