Jubilee Metals enters PGM partnership, boosts processing capacity

Jubilee Metals Group PLC (JSE: JBLE) announced a joint partnership to process surplus Platinum Group Metals (PGM) and chrome stock at its South African operations. This agreement leverages Jubilee's increased chrome concentrate production, which reached a record 974,659t in the six months to December 2024, a 35.7% increase year-on-year. Under the terms, Jubilee will commence deliveries at 18,000 tonnes per month, with potential to increase to 30,000 tonnes per month. The increased PGM processing capacity is estimated to add 11,500 PGM ounces annually. Earnings from the project will be shared equally. The initial agreement term is 12 months, with the possibility of extension. Jubilee expects the transaction to increase its production capacity by as much as 32% at a 100% level.