Jubilee Metals Group reported a 65% quarter-on-quarter increase in copper production to 938 tonnes for the three months ended September 30, 2025, marking a strong start to its 2026 financial year.
The performance was driven by the consistent operation of its Roan concentrator, which produced 917 tonnes of copper in concentrate from third-party ore, and the restart of high-grade ore deliveries from the Molefe mine to the Sable refinery in September.
The company cited a lack of material power outages and consistent ore quality as key factors behind the improvement.
The Molefe mine delivered 1,122 tonnes of ore during the quarter, with output ramping up to 3,500 tonnes in October.
The operation is on track to reach 4,500 tonnes by the end of November, with a target of 8,500 tonnes for the next quarter, subject to seasonal rains.
Jubilee chief executive Leon Coetzer said the company's copper business is now stabilising ahead of a new phase of growth.
“With both Roan and Sable processing plants now fully operational, and the Molefe openpit copper mine expanding successfully, our copper business is stabilising ahead of a new phase of growth,” he said.
“Jubilee still possesses the optionality to increase throughput further through both increased processing of historical tailings material and the introduction of the new Roan front-end although these will only be considered after the rainy season.”
The company ended the quarter with more than two million tonnes of lower-grade ore stockpiled, which continues to grow by approximately 70,000 tonnes per month. Jubilee maintained a strong safety record with 215 lost-time-injury-free days during the period.
Revised production guidance for the full 2026 financial year is set between 4,500 and 5,100 tonnes of copper, with the final figure dependent on the impact of seasonal rains.
Coetzer confirmed that the focus remains “firmly on driving our copper strategy via our three-pillar strategy and ensuring stability in the operations in the country including key items such as feed rate, yields and cost control.”
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
