Jubilee Metals is unlocking a major boost to its platinum group metal (PGM) output without spending a penny in new capital. A fresh strategic agreement with a fellow PGM producer now turns surplus chrome-linked stockpiles into a lucrative revenue stream—one that could accelerate Jubilee’s growth trajectory in 2025 and beyond.
In a move that underscores Jubilee Metals’ shrewd capital discipline and production agility, the company has signed a 12-month partnership deal with an undisclosed PGM producer. The agreement will see Jubilee channel up to 30 000 tonnes per month of chrome- and PGM-rich feedstock—previously a byproduct of its surging chrome output—to be processed externally. This step is part of Jubilee’s solution to a challenge born of success: record-breaking chrome concentrate volumes have left the company with excess PGM-bearing material stockpiled at its South African operations.
Rather than overextending by expanding its own PGM processing footprint, Jubilee has chosen a more capital-efficient route. The company launched a targeted partner search after realising that ramped-up chrome production—specifically at its Thutse operations where two new chrome modules came online—was consistently generating a surplus of PGM-containing material. For the six months ended 31 December 2024, chrome concentrate production hit a record 974 659 tonnes. This unexpected windfall created the perfect opportunity for a collaborative strategy.
Under the new agreement, 18 000 tonnes per month will initially be delivered to the partner, with scope to escalate to 30 000 tonnes. At peak delivery, this could add an estimated 11 500 ounces per year in additional PGM output—representing a potential 32% boost over Jubilee’s 2025 production guidance. Importantly, all of this expansion is achieved without any capital investment, allowing the company to redirect financial resources into higher-yield projects or further optimisation across its asset base.
Revenue from the venture will be split equally between Jubilee and its partner, aligning both parties toward maximising throughput and returns. There is also flexibility built into the arrangement, with an option to extend the partnership beyond its initial 12-month duration. This provides both operational continuity and scalability, should market conditions or internal production dynamics shift.
In parallel, Jubilee’s core PGM operations at Iyoni continue to operate at full tilt, maintaining momentum across its vertically integrated strategy. The company has consistently demonstrated its ability to pivot operationally while maintaining a growth-forward posture. This latest agreement is a strong example of Jubilee’s knack for leveraging strategic relationships to transform operational surpluses into shareholder value.
