Jubilee Metals Group PLC, the London-based metals processing company, has announced that it will seek shareholder approval for the proposed disposal of its South African chrome and platinum group metal (PGM) operations. The vote is scheduled to take place at a general meeting on 28 August 2025.
The company disclosed in June that it had received a conditional binding offer from a private mining and metals trading entity to acquire the South African chrome and PGM assets for a total consideration of up to USD90 million (approximately ZAR1.60 billion). The proposed consideration will be structured as a combination of an upfront cash payment and deferred instalments over a three-year period.
Under the terms of the offer, Jubilee Metals will retain all current rights to the Tjate platinum mining project, which remains outside the scope of the proposed transaction. The company has stated that the divestment will enable it to direct resources towards expanding its copper operations in Zambia, aligning with its stated strategic objectives.
As of Tuesday morning, Jubilee’s shares traded at 3.05 pence on the London Stock Exchange — representing a 3.4% increase on the day — though the stock remains 49% lower compared with the same period last year. In Johannesburg, the shares stood at 72 South African cents, a year-on-year decline of 47%.
If approved, the transaction would represent a significant reshaping of Jubilee Metals’ asset portfolio, reflecting a growing emphasis on copper as a core driver of future earnings. Copper is considered a critical material in the global energy transition, particularly in renewable energy infrastructure and electric vehicle manufacturing, potentially positioning Jubilee to benefit from long-term demand growth.
The proposed sale also underscores broader trends in the Southern African mining sector, where companies are increasingly evaluating portfolio optimisation in response to commodity market dynamics and geopolitical considerations.
Further details of the transaction, including the final structure and timing of payments, will be made available following shareholder deliberations at the August meeting.
