NEW YORK, January 3, 2026, 09:29 ET — Market closed
- Jubilee Metals says sale of its South African chrome and PGM operations to One Chrome is complete
- JBL shares ended Friday down 2.47% at 79 cents on the Johannesburg Stock Exchange
- Investors watch for a second US$10 million instalment and next updates on the Zambia copper focus
Shares of Jubilee Metals Group plc (JBL) ended Friday down 2.47% at 79 South African cents on the Johannesburg Stock Exchange after the company said it had completed the sale of its South African chrome and platinum group metals operations to One Chrome (Pty) Ltd. Jubilee said it expects a second US$10 million cash instalment in the coming days. 1
The disposal matters now because it sharpens Jubilee’s pivot toward copper production in Zambia, changing the metal exposure investors are buying when they own the stock.
It also puts cash and capital allocation back in focus at the start of the year, when investors often reset positions and look for clearer earnings drivers.
The company described the transaction as a “disposal” — a corporate term for a sale — after the satisfaction of conditions. “PGM” refers to platinum group metals, a basket that includes platinum and palladium.
Jubilee said it will now focus solely on its Zambian copper business, while retaining its investment in the Tjate platinum project in South Africa and exploring options to monetise it. Chief executive Leon Coetzer said the group had executed the transaction “within the timelines stipulated when first announced”.
The stock traded between 76 and 81 cents on Friday, with 335,318 shares changing hands, JSE pricing data showed. Traders will watch the 76-cent low as support and 81 cents as near-term resistance. 2
South African equities started 2026 on a firmer note: the JSE All Share index closed up 0.22% on Friday and the Top 40 added 0.24%, exchange data showed. 3
With the South African operations sold, Jubilee’s results should become more sensitive to operating performance in Zambia and to copper prices, which tend to drive revenue for more concentrated copper producers.
Investors will look for clearer signals on how management plans to use the expected cash instalment, and whether the company flags any near-term milestones for its Zambian operations.
Before the next session, the immediate catalyst is confirmation of the second US$10 million payment and any follow-up statement on balance-sheet priorities and investment plans.
Before the next session, attention will also turn to Jubilee’s annual general meeting on Jan. 14 and an interim results update pencilled in for March 31, according to Moneyweb’s corporate calendar. 4
