By Jubilee Metals Group has exceeded expectations in its platinum group metals and chrome production for fiscal 2023. However, copper production fell slightly below guidance due to power and water disturbances in Zambia.
Platinum Group Metals
Jubilee Metals Group produced 42,747 ounces of platinum group metals in the year ended June 30, surpassing the previous fiscal year’s production of 41,456 ounces. This exceeds the company’s guidance of 38,000 ounces.
Chrome Production
The metals-processing company saw a 7% increase in chrome production, reaching 1.29 million metric tons, compared to the previous year. This figure surpasses the full-year guidance of 1.20 million tons.
Copper Production
Unfortunately, copper production declined by 29% to 2,923 tons, falling just short of the targeted 3,000 tons. This decrease is attributed to disruptions in power and water supply in Zambia.
Future Outlook
Jubilee Metals Group has set ambitious targets for the future. The company aims to produce 42,000 ounces of platinum group metals, with chrome production reaching a record-high of 1.45 million tons following the completion of a new facility capable of processing 360,000 tons per year in June. Additionally, copper production is targeted to double to 5,850 tons.
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