Diversified metals producer Jubilee Metals has published its South African operational and project update for the fourth quarter ended June 30, with the company highlighting a strong production performance for the financial year.

Jubilee has operations in South Africa and Zambia and expects to release an update on the latter’s operations next month.

Chrome concentrate production for the quarter was 505 578 t, a 19.9% increase on the 421 698 t produced in the comparative quarter in the previous financial year.

Production for the year ended June 30 reached 1.93-million tonnes of chrome concentrate, a 24.8% increase on the 1.55-million tonnes produced in the comparative year, and exceeding revised guidance of 1.85-million tonnes.

Platinum, palladium, rhodium, ruthenium, iridium and gold (6E) platinum group metals (PGM) production for the fourth quarter reached 8 973 oz, an increase of 14.6% on the 7 828 oz in the comparative quarter a year earlier.

PGM production for the year reached 38 579 oz, an increase of 6% on the 36 411 oz for the previous year, and in line with revised guidance of 38 000 oz.

Cessation of the OBB chrome ore supply contract at end-June – equivalent to 450 000 t/y of

Chrome – is to be offset largely by increased production from the Thutse operations, Jubilee points out.

For full-year 2026, chrome concentrate production guidance for the South African operations is 1.65-million tonnes to 1.80-million tonnes, while the PGM production guidance is 36 000 oz to 40 000 oz.

Jubilee’s South African operations recorded a lost-time frequency injury rate of 1.33 with no classified injuries reported.

“Our South African operations have produced strong production results for the period, which speaks to our deep understanding in manging the interdependency of our chrome and PGM operations backed by the dedication of our team,” Jubilee CEO Leon Coetzer says.

“Over the past quarter, we have seen large fluctuations in the price of chrome. 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 approximately 11.4% which has been largely buffered by platinum prices that have appreciated by nearly 33% over the same period and further supported by the significant increase in chrome production,” he outlines.

As announced at the beginning of June, Jubilee is finalising the sale agreements relating to the proposed sale of its South African chrome and PGM operations, Coetzee informs.