Jubilee Metals Group PLC, an industry leader in metal recovery, is focused on retreatment and recovery from mine waste, tailings and waste products, slag and slurry, and other secondary materials produced by mining operations.
The expanding portfolio of projects across South Africa, Zambia and Namibia provides exposure to commodities such as Platinum Group Metals, chrome, lead and zinc, vanadium and copper.
Jubilee Metals Group PLC has reported higher revenue and lower profit, but stable cash flows as it navigated through a year in which the basket of Platinum Group Metals (PGMs) prices fell sharply.
The company was able to counter the decline in PGM prices through expanding its chrome operations and entering into agreements with higher margins. This resulted in a cash position of £12.5million at year-end, as well as generating a strong cash flow of £31million.
Record production PGM, Chrome and Copper in the year up to June resulted in revenue from operations rising 1% to £142million (down 8% to US$171million in dollar terms). The growth in USD chrome revenue largely offset the market price effects on PGM sales.
The average PGM Basket Prices decreased by 22%, to US$1,262.
After a positive operational update, the share price of Jubilee Metals Group PLC grew by 3% in early trading.
Jubilee Metals Group PlC, according to its chief executive Leon Coetzer is on a “growth path that’s exciting”, as it updated on the chrome joint ventures in South Africa and on the Roan Concentrator’s growth in Zambia.
The company has upgraded and commissioned the brownfield processing plant on the western limb Bushveld Complex. It achieved its operational output target.
Jubilee Metals Group PLC is a “great business”, according to stockbroker, WH Ireland. The broker sees the miner as a good investment after its latest deal.
The company announced today that it had agreed to work with Mopani Copper Mines PLC (a subsidiary of ZCCM Investment Holdings PLC) to create more copper and cobalt refining capacity in Zambia.
Jubilee’s copper and cobalt concentrators produced in its Kitwe copper and Luanshya cobalt and copper tailings will be refined at Mopani’s processing facilities under the project.
Jubilee Metals Group PLC Leon Coetzer talks to Thomas Warner following the release of an update regarding the chrome joint venture for the metal recovery business in South Africa, as well as a report on the expansion in Zambia of the Roan Concentrator.
Coetzer discusses the company’s achievements and progress over the past six months, since the last update. He highlights the expansion of South African Chrome operations, which exceeded the expectations of adding 60,000 tons of capacity in only four months. The expansion will boost the group’s revenues by about $45 million.
Coetzer discusses also the company’s progress in the copper industry, notably its groundbreaking waste to copper project in Zambia. The southern copper refinery has been on track and Jubilee Metals continues to increase its efforts to extract the copper from historic tailings. This strategy is expected to produce significant results.
