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Jubilee Metals Group PLC Surges Ahead with Record Production and Strategic Partnerships in Q3 FY2024

  • Operational Excellence in South Africa: Record chrome production, modular expansion, and extended tolling agreements highlight Jubilee's strength.
  • Strategic Growth in Zambia: Increased copper production, small-scale partnerships, and sustainable mining initiatives drive future prospects.
  • Financial Resilience and Outlook: Stable revenue streams, revised guidance, and strategic projects position Jubilee for continued success.

In the realm of metals processing and mining, Jubilee Metals Group PLC stands out as a leading player, especially in Africa. The recently released Operational Update for the third quarter of the financial year 2024 (Q3 FY2024) sheds light on the company’s performance, strategies, and future outlook.

Operational Highlights

South Africa Operations: Chrome and PGM Focus

Jubilee’s operations in South Africa showcase robust performance, particularly in chrome production. Despite seasonal challenges, Q3 FY2024 witnessed record-breaking chrome production, reaching 408,710 tonnes. This achievement underscores Jubilee’s operational excellence and modular expansion strategy.

The construction of a second chrome processing module at the Thutse Project remains on track, with a target capacity of 300,000 tonnes per annum. This expansion aligns with Jubilee’s goal of achieving 2.1 million tonnes of chrome concentrate annually.

On the PGM front, while Q3 FY2024 saw a slight reduction in production to 8,339 ounces, the year-to-date figures remain steady. Jubilee’s focus on chrome and PGMs reflects a balanced approach to commodity diversification and market demand.

Zambia Operations: Copper Expansion and Partnerships

In Zambia, Jubilee is strategically expanding its copper production capacity. Despite challenges like construction delays at the Roan concentrator and Sable refinery, the company recorded a significant increase in year-to-date copper production, reaching 2,374 tonnes.

The partnership agreements with small-scale copper miners in Zambia signify Jubilee’s commitment to sustainable growth and community engagement. These partnerships not only secure additional copper resources but also contribute to local economic development.

Financial Implications and Guidance

Jubilee’s operational achievements translate into tangible financial outcomes. The extension of chrome tolling agreements to 2027 ensures revenue stability and underscores industry recognition of Jubilee’s processing expertise.

In terms of financial guidance, while chrome and PGM production targets remain unchanged, the revised copper guidance reflects the impact of project delays. Despite this, Jubilee maintains a positive outlook, leveraging its strong operational foundation to navigate challenges and capitalize on opportunities.

Strategic Initiatives: Waste Rock Project and Future Prospects

The Waste Rock Project, in collaboration with International Resources Holding (IRH), represents a strategic move towards sustainable resource utilization. This project’s potential to produce over 20,000 tonnes of copper annually underscores Jubilee’s long-term vision and innovative approach to mining.

Looking ahead, Jubilee’s focus on modular processing technologies, sustainable partnerships, and operational efficiencies positions the company for continued growth. The ongoing Project Roan upgrade and Sable refinery expansion are key milestones in Jubilee’s journey towards becoming a dominant player in the metals processing industry.


Jubilee Metals Group PLC’s Q3 FY2024 Operational Update reflects a blend of operational excellence, strategic foresight, and financial resilience. Despite challenges, the company’s achievements in chrome, PGMs, and copper underscore its leadership in the African metals processing landscape. With a clear vision, robust partnerships, and a focus on sustainable practices, Jubilee is poised for sustained success in the dynamic global market.



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