Jubilee Metals Group to focus on Zambian copper projects after disposal of SA assets

JUBILEE Metals Group plans to concentrate solely on its Zambian copper projects and the Tjate platinum project in South Africa by the end of the year.

- EDWARD WEST

The strategic shift is contingent on the disposal of its South African chrome and PGM operations, which is expected to be finalised soon.

In an update released on Monday, the JSE and London-listed copper-focused producer revealed that shareholders had approved the sale of the chrome and PGM operations on August 25, 2025. The company has already received the first tranche of the sale consideration, amounting to $15 million.

“Our Three-Pillar Strategy offers flexibility to our operations and supports a more robust business approach to withstand in-country risks while providing exciting growth opportunities for the Group,” said CEO Leon Coetzer.

The company is awaiting approval from the Competition Commission for the transaction, with the final condition precedent being the ongoing company audit.

Notwithstanding the positive update, Jubilee's share price fell 6.49% to 72 cents on the JSE Monday afternoon, a price that was also well below 109 cents a year ago.