Jubilee Metals has started its 2025 financial year with a strong set of operational results for the first quarter, reporting organic growth across its SA operations and key milestones for its Zambian copper expansion.
The diversified metals miner reported increased production at its SA chrome and platinum group metals (PGM) mines, which it said are now well-established and consistently delivering strong results.
PGM production was up 19% from the previous quarter at 9,328oz, in line with guidance — while chrome output surpassed its quarterly target, reaching 455,381 tonnes on the back of improved efficiencies.
While both commodities are on track to meet production guidance, the recent construction of two new chrome processing modules at Jubilee’s Thutse operations are expected to boost output in the second half, which could see the group raising chrome guidance halfway through the year.
In Zambia, we have made considerable strides to establish a solid foundation for our anticipated growth in copper production.
Amid the group’s ongoing copper expansion project, Jubilee said this was a pivotal quarter for its Zambian operations, which achieved key ramp-up targets — namely, at the Flotation and Milling circuit and newly commissioned Front-End module, which are expected to boost Roan’s processing capacity to a combined maximum 13,000 tonnes per year.
The period also saw Jubilee successfully bringing its two newly acquired open-pit copper mines, Munkoyo and Project G, into production, marking another milestone in its copper expansion efforts.
Having commenced operations in July, Munkoyo produced a total of 250,000 tonnes in the period, while Project G produced its first copper concentrate in October and aims to be fully operational by December.
Jubilee CEO Leon Coetzer said: “I am pleased to report significant progress in the first quarter of full year 2025, where we have successfully achieved key milestones in advancing our copper strategy, while our chrome and PGM operations continue to perform strongly.
“In Zambia, we have made considerable strides to establish a solid foundation for our anticipated growth in copper production. The commissioning and ramp-up of both the Roan and Munkoyo projects have been completed, setting the stage for substantial increases in output.”
After being weighed down by widespread power challenges caused by an ongoing drought, Jubilee recently concluded a private power purchase agreement for its Zambian operations in September, which will now ensure reliable and uninterrupted power supply.
“Despite facing several hurdles along the way, including the countrywide power crisis, we have navigated these challenges and emerged stronger,” said Coetzer.
“Our copper business is now positioned for exceptional growth, with two fully operational processing plants at Roan and Sable, complemented by the successful implementation of the Munkoyo and Project G Open-Pit copper mines.
“Looking ahead to the remaining three quarters of the 2025 full year, I am confident that we will continue with executing on our copper growth strategy, while maintaining the momentum of our successful SA operations.”
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.