• $90mn disposal of South African operations
• Zambian copper production scaling up
• Copper price at an all-time high
Aim-traded mining company Jubilee Metals (JLP: 3.5p) has completed the disposal of its chrome and platinum group metals (PGM) operations in South Africa. The initial $25mn (£18.5mn) cash consideration in effect wiped out net debt of $15.8mn at the 2025 financial year-end and the group is also due deferred payments of $50mn (including $15mn by the year-end) and royalty payments of $15mn.
The cash resources will be used to expand Jubilee’s portfolio of copper-producing assets in Zambia. Strong copper markets support higher earnings potential and better margins than chrome, albeit PGMs have been on a tear since the disposal was announced.