Jubilee Metals to sell chrome, PGM assets for $90m

Jubilee Metals Group PLC (JSE:JBLE) has received a conditional binding offer of up to US$90 million from a private mining company to acquire its chrome and PGM operations in South Africa. The sale is conditional on shareholder and regulatory approvals. The disposal will enable Jubilee to concentrate on its copper operations in Zambia, where it sees greater growth potential. Jubilee intends to retain its rights to the Tjate Platinum mining project. In Zambia, Jubilee has secured further high-grade copper ore, increased operational capacity at the Roan concentrator, and is expanding its mining portfolio. The company has also agreed to issue 74,698,795 new ordinary shares at a price of GBP4.15 per share as part of the consideration for US$3.1 million. The shares are expected to be admitted to trading on AIM and listed on the Altx of the JSE Limited around 11 June 2025.