Jubilee Metals Reports Strong First Quarter Results for 2025, Boosted by Chrome and Copper Expansion

Jubilee Metals has begun its 2025 financial year on a positive note, reporting strong operational results for the first quarter, driven by organic growth in its South African operations and key milestones in its Zambian copper expansion. The diversified metals miner highlighted increased production at its South African chrome and platinum group metals (PGM) mines, which continue to perform robustly.

PGM production rose by 19% from the previous quarter to reach 9,328 ounces, in line with company guidance. Chrome output also surpassed its quarterly target, achieving 455,381 tonnes, due to improved efficiencies. Jubilee's recent construction of two new chrome processing modules at its Thutse operations is expected to further boost output in the second half of the year, potentially leading to revised upward production guidance.

In Zambia, Jubilee's copper expansion project reached pivotal milestones during the quarter, particularly at the Flotation and Milling circuit and the newly commissioned Front-End module, which are expected to boost Roan's processing capacity to a maximum of 13,000 tonnes per year. Additionally, Jubilee brought two newly acquired open-pit copper mines, Munkoyo and Project G, into production, marking a significant milestone for its copper growth strategy.

Munkoyo, which began operations in July, produced 250,000 tonnes in the quarter, while Project G produced its first copper concentrate in October, with full-scale operations expected by December. Jubilee CEO Leon Coetzer expressed satisfaction with the progress, stating, "We have successfully achieved key milestones in advancing our copper strategy, while our chrome and PGM operations continue to perform strongly."

The Zambian operations faced challenges, including widespread power disruptions caused by an ongoing drought. However, Jubilee recently concluded a private power purchase agreement in September to ensure a stable and uninterrupted power supply. Coetzer remarked, "Despite facing several hurdles, including the countrywide power crisis, we have navigated these challenges and emerged stronger."

Jubilee's copper business is now well-positioned for growth, with two fully operational processing plants at Roan and Sable, alongside the implementation of the Munkoyo and Project G open-pit mines. Looking ahead, Coetzer expressed confidence in continuing to execute Jubilee's copper growth strategy while maintaining the momentum of its successful South African operations for the remainder of the 2025 financial year.