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Jubilee Metals Group PLC on Thursday said it has received a ‘conditional binding offer’ from a private mining and metals trading company to acquire its chrome and platinum group metal operations in South Africa for up to $90 million, or R 1.60 billion. The London-based metal processing company indicated that the proposed transaction is subject to a number of customary conditions, including entering into final definitive agreements, shareholder approval and regulatory clearances. The total consideration of up to $90 million is payable through a combination of cash upfront and deferred cash payments over around three years. Under the terms of the binding offer, Jubilee will retain all current rights to the Tjate Platinum mining project offering it continued exposure to the potential upside of the PGM market, while focussing to further advance its copper strategy in Zambia. Jubilee said its board has reviewed the offer and recognises the value proposition of the binding offer. The disposal of the chrome and PGM business in South Africa allows the group to focus its efforts on Zambia, Jubilee said. It said it believes there are ‘material opportunities’ to deliver growth at the existing sites in Zambia by expanding the portfolio of copper producing assets. Strong copper markets support higher earnings potential, resulting in higher profit margins than that of chrome, it said. Jubilee also said it is reviewing its dividend policy to enable possible distributions to be made to shareholders in future. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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