Jubilee Metals Partners to Process Surplus PGM Feedstock in South Africa

Jubilee Metals Group has announced a partnership with a South African platinum group metals (PGM) producer to address the growing stockpile of PGM-bearing material at its operations. The agreement, revealed on April 9, 2025, will facilitate the processing of at least 18,000 tons of surplus material per month, with the potential to increase deliveries to 30,000 tons monthly. This move marks a significant step in Jubilee’s strategy to enhance efficiency without additional capital investment.

The surplus stock has accumulated as a by-product of Jubilee’s chrome operations, which reached record production levels in the six months ending December 2024. Chrome concentrate output increased by 35.7% year-on-year to 974,659 tons during this period. The expanded chrome operations have contributed to a significant rise in PGM surface stock, necessitating partnerships to utilize available processing capacity. Under the agreement, Jubilee will oversee technical and operational performance while sharing earnings equally with the processor.

The increased PGM processing capacity is expected to yield approximately 11,500 ounces of PGM annually at maximum throughput. Jubilee CEO Leon Coetzer stated that the partnership allows the company to immediately commence processing surplus material while increasing production capacity by up to 32% without expanding its own facilities. “Our preference is to partner with existing PGM producers rather than investing further capital to expand our own PGM capacity,” Coetzer explained.

In addition to its South African operations, Jubilee is progressing its copper strategy in Zambia. Copper production reached 1,454 tons during the first half of FY2025, slightly below its revised target due to power constraints caused by depleted water levels at Kariba Dam. However, Jubilee’s copper stockpile increased sharply to 1.21 million tons containing an estimated 8,466 tons of copper units earmarked for future processing. These developments highlight Jubilee’s focus on optimizing resource utilization across its portfolio.

Looking ahead, Jubilee remains on track to exceed its full-year chrome production guidance of 1.65 million tons and PGM production guidance of 36,000 ounces. The company’s multi-metal approach continues to position it as a key player in Africa’s mining sector.