Jubilee Metals Group reports 65% increase in copper production in first quarter

JUBILEE Metals Group, the London and JSE listed mining group, increased copper production by 65% in the first quarter of its financial year to September 30, with no material power outages affecting operations.

- EDWARD WEST

The Zambia-focused copper producer said in an operational update on Friday that production was made up largely of copper concentrate produced by Roan for refining at Sable, prior to the commencement of high-grade copper (Cu) ore deliveries from the Molefe mine to Sable during September 2025.

Leon Coetzer, Jubilee's CEO, said it had been a significant 12 months as the company had become a pure Zambia-focused copper producer. Jubilee’s share price fell 2.5% to 65 cents on Friday, a price already well down from R1.13 a year before.

“I am pleased to report positive progress in the first quarter, where we have successfully improved our copper production versus the previous year's comparable period. We have seen firsthand the benefits of our power supply agreement, resulting in no material power outages affecting our operations,” he said in the trading update.