Jubilee completes £58m investment to expand PGM, copper, cobalt operational footprint

Jubilee Metals has completed its £58 million investment programme in South Africa and Zambia that has reshaped the company and provided expanded production across PGMs, chrome, copper and cobalt.
It said the investment also laid the platform for the expected growth during the full fiscal year 2023 period.
The company said in South Africa, construction and commissioning of the new 45% expanded Inyoni operations were completed in March 2022 with an annualised nameplate production capacity of 44 000 PGM ounces and 1.2 million tonnes combined chrome concentrate capacity.
It achieved increased production of 21 140 PGM ounces for six months despite planned operational interruptions to complete the new Inyoni processing facility.
"The rationale for the investment to expand our Inyoni operations is best illustrated by the simultaneous increase in not only the overall PGM production but also the sharp increase in earnings generated per PGM ounce despite softer metal prices,” said company chief executive Leon Coetzer.
In Zambia, copper production jumped 14% to 1 388 tonnes, over the previous six-month period.
Southern Copper Refining Strategy for 12 000 tonnes per annum of copper was brought onstream with the commissioning of the new Roan copper concentrator and the ramp-up of operations reached 80% of design capacity in August 2022.
“This puts us on track to achieve our targeted 3 700 tonnes of copper over the current six-month period ending December 2022,” said Coetzer.
“The increased production rates are expected to further reduce our unit cost. With the delivery of Project Roan, we are on track to reach 10 000 tonnes of copper for the full twelve-month period ending June 2023, while we work to unlock the cobalt potential.”

Mathew Nyaungwa, Editor in Chief of the African Bureau, in Zimbabwe, Rough&Polished