Jubilee Metals Sees Chrome Surge, Copper Dips in 1H FY25

Jubilee Metals

Power Issues Hamper Zambian Copper Output, Chrome Hits Record Highs

Jubilee Metals experienced a mixed first half of the 2025 financial year. Copper production at its Roan operations in Zambia fell short of targets. The company produced 1,454 metric tons of copper. This figure is below the revised 1,800 metric ton target. It also represents a 13.6% decrease year-on-year. Power supply constraints caused the shortfall. Jubilee Metals secured a new power provider to stabilize supply. They expect to return to targeted production levels at Roan. Copper production guidance at Roan remains under review. Munkoyo operations' copper output remained unaffected.

Chrome Concentrate Production Reaches All-Time High

Jubilee Metals achieved a record 974,659 metric tons of chrome concentrate. This is a 36% increase from the prior year. The company is on track to exceed its full-year guidance. This guidance is set at 1.65 million metric tons. New chrome processing units in South Africa drove the record production. Platinum group metals (PGMs) production was 18,435 ounces. This is down from 20,244 ounces in the prior year. Jubilee Metals remains on track to meet full-year PGM guidance. The guidance is 36,000 ounces. The company will upgrade the Sable refinery in Zambia. This will process materials from open-pit mining. The upgrade should be complete by Q2 FY26.