28th Aug 2025 15:11
Jubilee Metals Group PLC - London-based metal processing company - Shareholders have approved the sale of its chrome and platinum group metal operations in South Africa at a general meeting on Thursday. Early in June, Jubilee said it had received a "conditional binding offer" from a private mining and metals trading company to acquire its South African chrome and PGM business for up to USD90 million, or ZAR1.60 billion.
The USD90 million is payable through a combination of cash upfront and deferred cash payments over three years. Under the terms of the binding offer, Jubilee will retain all current rights to the Tjate platinum mining project. The disposal of the chrome and PGM business in South Africa allows Jubilee to focus on copper operations in Zambia.
Current share price in London: 3.29 pence, up 9.5% Thursday afternoon
12-month change: down 41%
Current share price in Johannesburg: 78 rand cents, up 8.3%
12-month change: down 41%
By Artwell Dlamini, Alliance News senior reporter South Africa
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