Jubilee Metals Accelerates Zambian Copper Production and Pushes Ahead with Three-Pillar Strategy

Jubilee Metals Group (LSE:JLP) delivered a strong operational performance in the first half of FY2026, driven by rising copper output from its Zambian assets despite weather-related disruption and infrastructure challenges. The Roan processing facility achieved its targeted 30,000 tonnes per month feed rate, lifting copper unit production by 172.8% year on year to 1,246 tonnes. Total saleable copper units increased 8.7% to 1,543 tonnes, supported by stable power supply and operational efficiency gains.

At the Molefe Mine, the group mined 181,890 tonnes of copper reef and transported 9,130 tonnes of ore to the Sable Refinery. Jubilee also continued to build strategic stockpiles and advanced a two-phase drilling campaign in partnership with Galileo Resources, aimed at expanding the project’s resource base. Progress was made across the company’s broader three-pillar copper growth strategy, including advancement of the Large Waste Project toward a partnership decision. Jubilee reaffirmed its full-year copper production guidance of 4,500 to 5,100 tonnes and confirmed receipt of a further $10 million linked to the completed disposal of its South African chrome and PGM operations.

While operational momentum in Zambia remains strong, the company’s broader financial profile reflects recent pressure, including weaker revenues, reduced profitability and negative free cash flow. On the technical side, share price performance has been constructive, with bullish indicators such as trading above key moving averages and a positive MACD providing support. Valuation metrics are less definitive due to the absence of meaningful P/E and dividend yield data.

More about Jubilee Metals Group

Jubilee Metals Group is a metals processing specialist with a growing focus on copper production in Zambia, centred on the Roan concentrator, Sable Refinery and Molefe Mine. The group has historically processed chrome and platinum group metals in South Africa and has completed the sale of its South African chrome and PGM operations, while continuing to report output from those assets during the transition period.