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Jubilee Metals posts increased sales and earnings on rising chrome and PGM production

Jubilee is now building an impressive record of revenues and growth

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Worker's at Jubilee's Hernic plant

Jubilee Metals (LON:JLP) boosted revenue by 75% to £14.36mln in the six months to June 2019, when set against the second half of 2018.

Operational earnings rose by 47% to £5.64mln.

Much of the cause of the increase was the rise in chrome production, which hit 164,936 tonnes as both the DCM fine chrome and the Windsor chrome operations were brought on-line.

Jubilee also produced 11,559 platinum group metal ounces during the first half.

Elsewhere, the company’s acquisition of the Sable Zinc Kabwe Refinery for the processing of the Kabwe material in Zambia has become effective with all contractual conditions precedent met.

“Our chrome performance has seen significant growth which is attributable to our ground-breaking DCM fine chrome operation and Windsor chrome operation being brought online during the period,” said Jubilee chief executive Leon Coetzer.

“Replicating this success, we expect to see a step-up in PGM production following the Windsor PGM project being brought into operation during July 2019.”

 

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