Jubilee Metals Group has agreed to sell its chrome and platinum group metals (PGM) operations in South Africa to private mining company One Chrome in a deal worth up to $90 million (R15.8 billion).
The sale includes the Windsor chrome facilities, Inyoni and OBB PGM plants, and three Thutse processing units with a combined capacity of 130,000 tonnes of chrome ore per month. A shareholder vote is scheduled for August 28, with institutional investors holding 30.4% of shares already backing the proposal.
The divestment will allow Jubilee to channel investment into its copper projects in Zambia, where the Roan concentrator has reached stable production and new developments such as Munkoyo and Project G are underway. The company sees strong long-term demand for copper from electric vehicles, renewable energy, and data infrastructure.
Jubilee says the move will reduce jurisdictional risk, with Zambia’s economy forecast to grow faster than South Africa’s in the coming years. Proceeds from the sale may also support a share buyback or future dividend policy.
