Jubilee Metals Group plc (LON:JLP), the Zambia copper focused producer, has announced that South African Competition Tribunal (SACT) has issued the Company with a merger clearance certificate, and as such, has unconditionally approved the sale of the South African Chrome and PGM Operations to One Chrome (Pty) Ltd (One Chrome) under the Competition Act (Disposal). SACT approval was a suspensive condition to the Disposal as outlined in the Circular to shareholders. (see announcement dated 12 August 2025).
Approval of the South African Reserve Bank is still required, and the Company does not envision this being reasonably withheld.
The last material condition precedent is audit related. This workstream is well underway and is expected to be completed by 30 November 2025. Following completion of the Disposal, which is expected by the end of CY2025, Jubilee Metals will be focused solely on its Zambian copper projects whilst retaining its investment in the Tjate platinum project in South Africa.
If all of the suspensive conditions of the Disposal are not satisfied or waived by 31 December 2025 then the sale agreement for the Disposal may be terminated by either Jubilee or One Chrome.
