Jubilee Metals contract hit cuts production in first quarter

(Alliance News) - Jubilee Metals Group PLC reported on Friday the end of the OBB chrome ore supply contract hit its production for the first quarter of its financial year.

The London-based metal processing company saw its platinum group metal production decline 10% to 8,382 ounces for the first three months that ended September 30, from 9,328 ounces a prior year, after OBB contract ceased.

Chrome output over this period fell 11% to 404,415 tonnes from 455,381 tonnes.

In July 2025, Jubilee announced that its contract supplying material to the OBB facility was not renewed. The OBB contract contributed the equivalent of 450,000 tonnes per year, based on the 2025 financial year.

Jubilee kept its chrome production guidance at between 1.65 milion tonnes and 1.80 million tonnes for the financial year ending June 30, 2026, from 1.93 million tonnes produced in financial 2025.

It expects annual PGM production guidance of 36,000 ounces and 40,000 ounces, from 38,579 ounces.

Jubilee also said the "workstreams" to conclude the sale of its South African chrome and PGM operations are progressing well.

It is awaiting approval by the South African Competition Commission, and expects to complete the disposal by the end of 2025 calendar year.

By Artwell Dlamini, Alliance News senior reporter South Africa

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Jubilee Metals