Diversified metals producer Jubilee Metals Group has met its copper production targets and exceeded its chrome production guidance for the fourth quarter of its 2024 financial year.

The company's Zambian operations achieved a 51.7% quarter-on-quarter increase in copper production to 1 048 t for the three months ended June 30. This was despite operational stoppages owing to construction activities at Roan.

Copper production for the full-year increased by 17.1% to 3 422 t, in line with guidance of 3 250 t to 4 000 t.

Further, chrome production from Jubilee's South African operations increased by 3.2% quarter-on-quarter to 421 698 t for the quarter ended June 30.

Chrome output for the full-year increased by 20% year-on-year to 1.55-million tonnes.

Jubilee says its chrome operations continue to perform, with the construction of a new chrome processing module at Thutse remaining on track for construction completion during the quarter ending on September 30.

The South African operations also produced 7 828 oz of six-element platinum group metals (PGMs) for the fourth quarter, compared with the 8 339 oz produced in the third quarter of the financial year, with the decrease owing to reduced PGM feed grades delivered as higher chrome recoverable material was prioritised to benefit from favourable chrome market conditions.

PGM production for the full-year decreased by 14.2% year-on-year to 36 411 oz of 6E.

Jubilee has set its chrome concentrate production guidance for the 2025 financial year at 1.65-million tonnes and its PGM production guidance at 36 000 oz of 6E.

Copper production for the 2025 financial year is guided at between 5 750 t and 7 500 t.

"Our Zambian operations are emerging from a period of significant investment in upgrading the Roan operations, while expanding our copper resource portfolio with the commissioning of our Munkoyo openpit copper mining operation. The upgraded Roan operation is now capable of processing previously mined material through the new front-end module while continuing to produce copper concentrate from previously processed material through the existing flotation section. Roan's unique capabilities offer Jubilee the opportunity to grow significantly within Zambia.

"I am particularly excited by the potential to significantly grow our openpit copper resource portfolio to complement both our Munkoyo and Project G operations as we target committing the expanded Sable refining capacity to these resources," comments CEO Leon Coetzer.

"With strong, mature operations in South Africa and tremendous strides taken in Zambia, Jubilee is well-prepared to deliver a robust 2025 financial year performance, with anticipated production increases across all commodities," he adds.