By: Creamer media

The company started a process to find a partner after ending up with surplus surface stock of PGM-bearing material created as a byproduct when it ramped up chrome production.

Jubilee’s chrome concentrate production had reached a record half-year high of 974 659 t for the six months ended December 31, 2024, on the back of two new commissioned chrome processing modules at the Thutse operations.

The company has opted to partner with an existing PGM producer to process excess stock rather than investing further capital to expand its own PGM capacity.

Under the terms of the 12-month agreement, Jubilee will deliver 18 000 t a month of chrome- and PGM-bearing material to the partner company, with the potential to increase these deliveries to 30 000 t a month.

The increased PGM processing capacity equates to an estimated 11 500 oz/y, assuming a feed rate of 30 000 t a month, which is in addition to the company’s existing PGM processing capacity.

The transactions allows Jubilee to increase its production capacity by as much as 32% – against its 2025 financial year’s production guidance – with no additional capital.

Earnings generated from the project will be shared equally between the partners.

The companies may extend the agreement beyond the initial 12-month term.

Jubilee, meanwhile, continues to operate its Iyoni PGM operations at full capacity.