Jubilee Metals boosts copper production over nine months

(Alliance News) - Jubilee Metals Group PLC reported on Wednesday its copper production rose sharply in the first nine months of its financial year, as its new strategy made progress.

The London-based metal processing company now focuses on its copper business in Zambia after selling its chrome and platinum group metal operations in South Africa late in February.

For the nine months that ended March 31, saleable copper production rose 29% to 2,177 tonnes from 1,691 tonnes a year before.

"We continue to make strong progress in delivering our Zambia copper strategy, with Roan sustaining targeted production rates and the expanded concentrate circuit now entering ramp-up after minor technical and logistical delays, marking a key step-change in our processing capability," Jubilee Chief Executive Officer Leon Coetzer said.

Jubilee said the commissioning of the expanded Roan copper concentrator plant is near completion, with the ramp-up of dewatered fine copper concentrate production underway during this month.

The copper producer also said Molefe copper mine continue to expand, with 250,162 tonnes of ore mined during the nine months, of which 20,064 tonnes were transported to Sable Refinery.

While heavy rains disrupted operations at Molefe, Jubilee said momentum remains strong as it advances the mine plan and plan increased production.

The company said its annual copper production guidance for the 2026 financial year is under review.

Late in March, Jubilee had guided for annual production between 4,500 tonnes and 5,100 tonnes for the financial year ending June 30, from 2,211 a year before.

In London, shares in Jubilee were up 4.4% to 2.87 pence on Wednesday morning, and they rose 4.7% to 67 rand cents in Johannesburg.

By Artwell Dlamini, Alliance News senior reporter South Africa

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