Jubilee Metals completes $90m sale of South African chrome and PGM operations to One Chrome

Jubilee Metals Group first disclosed on 5 June 2025 that it had received an unsolicited offer from One Chrome, a privately owned South African resources group, for its chrome and platinum group metals operations. The two sides agreed a price of up to $90m, which South African outlets put at roughly R1.5bn to R1.6bn.

What was sold

The business includes the Windsor chrome facilities and the Inyoni and OBB PGM processing plants on the western and eastern limbs of the Bushveld Complex. Jubilee had become one of the larger chrome producers globally, largely by reprocessing tailings and run-of-mine material for third parties. It kept its interest in the undeveloped Tjate platinum project and says it is still looking for ways to monetise it.

Approvals and completion

A Jubilee shareholder meeting to approve the transaction was called for 28 August 2025. South Africa's Competition Tribunal approved it in November. Jubilee announced completion on 5 January 2026 and said shortly afterwards that it had received the second cash instalment of $10m.

Why it matters

The disposal turns Jubilee into a purely Zambian copper company, and it has forecast a doubling of copper production in 2026. Chief executive Leon Coetzer said the company wanted to repeat the rapid growth of its former chrome business in copper. The exit mirrors a wider shift among diversified miners, including Anglo American, towards copper at the expense of other South African commodities, and it hands a sizeable chrome processing business to a local private owner.

Sources

• Business Report: Jubilee Metals Group plans R16bn sale of chrome, PGM operations in South Africa, 12 Aug 2025
• Mining Weekly: Tribunal approves Jubilee's sale of its South African chrome, PGM operations, 17 Nov 2025
• Mining Review Africa: Jubilee completes sale of South African Chrome operations, 05 Jan 2026
• IOL: Jubilee Metals forecasts doubled copper production for 2026 as transition continues, 17 Dec 2025
• BusinessTech: UK mining company officially sells South African businesses for R1.5 billion, 19 Feb 2026

Photo: Chromitite from the Bushveld Complex in South Africa's North West province. James St. John, Wikimedia Commons, CC BY 2.0.