Jubilee Metals Group plc (LON:JLP) is making impressive progress in its South African operations, according to the latest update from Zeus Capital. The company has revised its full-year production guidance upwards, signalling a strong operational performance that is expected to boost its bottom line.
For the third quarter of Fiscal Year 2025, Jubilee recorded a 10.7% increase in chrome concentrate production, reaching 452,561 tonnes. On a year-to-date basis, output is up by a striking 26.7%, totalling 1,427,220 tonnes. The company now anticipates ending the year with 1.85 million tonnes of chrome production – a significant upgrade from its initial forecast.
The news on Platinum Group Metals (PGMs) is equally upbeat. Jubilee produced 11,171 ounces of 6E PGMs in Q3, marking a 34% rise from the same period last year. Year-to-date, the figure stands at 29,606 ounces, a 3.6% increase, with full-year expectations now raised to 38,000 ounces.
This operational momentum is underpinned by the successful commissioning of two new chrome modules at the company’s Thutse site. Additionally, Jubilee has entered a joint venture with a South African PGM producer to process the growing PGM stockpile at Thutse, which is expected to add up to 11,500 ounces of 6E PGMs annually. Jubilee will retain 50% of the profits from this arrangement.
Commenting on the update, Zeus Capital Research Analyst Paul Smith stated:
“Today’s update for Jubilee’s South Africa operations is encouraging – chrome and PGM production is up year to date and is set exceed the initial forecast.”
“This outperformance underlines the successful installation and commissioning of two new chrome processing modules at Thutse and is testament to Jubilee’s technical capacity.”
Paul Smith also highlighted that while the firm awaits new production guidance from Zambia, this latest news serves as a strong reminder that Jubilee’s growth story isn’t solely tied to one region. South Africa is proving to be a robust contributor to both revenues and profits.
Final Thoughts
Jubilee Metals is clearly showing that its operational agility and technical strength can deliver results, even in challenging environments. With revised guidance now pointing to higher production volumes and a promising joint venture deal, investors have plenty to be optimistic about as the company continues to scale its capabilities in South Africa.
