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Jubilee Metals Group PLC on Monday described its annual chrome and platinum production performance as ‘strong’, though it expects lower output of chrome in the year ahead. The London-based metal processing company reported 6E platinum group metals production of 38,579 ounces for the financial year that ended June 30, up 6.0% from 36,411 ounces the year before. 6E PGM is platinum, palladium, rhodium, ruthenium, iridium and gold. For the fourth quarter alone, 6E PGM production was 8,973 ounces, up 15% from 7,828 ounces a year earlier. Annual chrome production rose by a quarter to 1.93 million tonnes from 1.55 million tonnes, and fourth-quarter chrome output rose 20% to 505,578 tonnes from 421,698 tonnes. Jubilee Metals said the cessation of the OBB chrome ore supply contract at the end of June will be offset largely by increased production from Thutse operations. ‘Our South African operations have produced strong production results for the period which speaks to our deep understanding in managing the interdependency of our chrome and PGM operations backed by the dedication of our team,’ Jubilee Chief Executive Officer Leon Coetzer said. Over the past quarter, Jubilee Metals had seen large fluctuations in the chrome price, Coetzer said. He said the company’s revenue and earnings exposure to chrome prices have ‘significantly’ increased in line with the increase in operational output, with a 1% movement in chrome price now being equivalent to an approximate 4.5% movement in the platinum price. Since May, the chrome price has depreciated by about 11%, which has been largely offset by rising platinum prices. These have appreciated by nearly 33% over the same period. The significant increase in chrome production also has offset the price decline, the company said. Jubilee Metals expects chrome production for the 2026 financial year to range between 1.65 million tonnes and 1.80 million tonnes, which would be down from the 1.93 million tonnes produced in financial 2025. 6E PGM production is expected to be between 36,000 ounces and 40,000 ounces, flat to up from the 36,411 ounces in the recent year. Jubilee Metals shares were down 2.1% to 3.33 pence in London early Monday. There were quoted at R 0.85 in Johannesburg. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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