Diversified metals producer Jubilee Metals has reported significant growth in its South African operations, with production increases in chrome and platinum group metals (PGMs) during the first quarter of FY 2025. The company’s well-established South African operations consistently exceeded targets.
For the quarter ending September 30, chrome concentrate production rose by 8%, reaching 455,381 tons, surpassing the planned output. PGM production, which includes platinum, palladium, rhodium, ruthenium, iridium, and gold, totaled 9,328 oz, aligning with company guidance.
“Jubilee’s chrome operations have performed exceptionally, surpassing quarterly targets,” the company stated. The new chrome processing modules at Thutse are expected to significantly boost production in the second half of the financial year, with commissioning already underway.
Expansion in Zambia
Building on its success in South Africa, Jubilee has applied a similar strategy in Zambia, focusing on leveraging assets to establish two key processing hubs—the Sable refinery and the Roan concentrator.
The quarter marked a critical phase for the company’s copper operations, as ramp-up targets were achieved, setting a solid foundation for sustained production. The newly completed flotation and milling circuits at Roan enhance operational flexibility, ensuring high-grade concentrate output.
Additionally, a new private power purchase agreement has 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 this to 90,000 tons in upcoming quarters.
Copper recovery is initially targeted at 55%, equating to approximately 6,200 tons annually, with potential to rise to 13,000 tons per year as on-site leaching begins in FY 2026.
The Munkoyo open-pit mine met 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 consistent feed material to Roan.
Despite nationwide power disruptions, Jubilee maintained copper production during the quarter, producing 744 tons of copper and holding 3,538 tons of contained copper for further processing. The company is on track to achieve its full-year copper production goal of approximately 6,000 tons.
Jubilee CEO Leon Coetzer expressed confidence in the company’s progress, stating, “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, even amidst challenges like the national power crisis.”
The company aims to produce 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 copper growth strategy while maintaining momentum in South Africa. Coetzer added, “With two fully operational processing plants at Roan and Sable, along with successful developments at Munkoyo and Project G, our copper business is poised for exceptional growth.”
