Jubilee Metals Group plc
Jubilee Metals Group Plc is a UK-incorporated (England & Wales), AIM-listed (ticker JLP) and JSE AltX-listed (ticker JBL) metals processing and recovery company. Historically a South African chrome and PGM (platinum group metals) processor, during FY2025 the Group agreed to dispose of its entire South African Chrome and PGM Operations (classified as held for sale/discontinued operations at 30 June 2025) and is redefining itself as a dedicated copper producer in Zambia, built around a three-pillar strategy: the Roan concentrator (third-party ROM feedstock), the Sable Refinery (mine-to-metals, including Molefe Mine), and the Large Waste Project (historical tailings/waste reclamation).
FY2025 in sixty seconds
year to 30 Jun 2025 · approved 16 Dec 2025 · 172 pages · Companies House
Jubilee Metals Group processes and recovers metals, and is turning itself into a copper producer in Zambia after agreeing to sell its South African chrome and platinum-metals business. Revenue from the copper business it is keeping fell to $15.2m from $18.5m, and the group made a loss after tax of $30.3m, against a profit of $6.0m the year before.
The report says copper output dropped while the Roan plant was being upgraded, which spread fixed costs over fewer tonnes, and electricity and wage costs in Zambia rose. The loss was also swollen by one-off charges tied to the sale, including asset write-downs and an adjustment for sale payments that will arrive later.
Cash at the year end was $4.6m, down from $19.3m, with borrowings of $19.7m. No dividend was declared. Management expects copper production of 4,500t to 5,100t in FY2026 and plans to invest the sale proceeds in Zambia. The auditor's opinion was clean, but the directors' view that the group can keep trading depends on new Zambian funding and on renewing bank facilities of US$17.6 million due on 31 December 2025.
Copper concentrate/cathode sales from Zambia (Roan/Sable), processing purchased ROM and own-mined material
Copper revenue (continuing operations) was US$15.2 million in FY2025, down 17.9% mainly due to lower production from the Roan upgrade
page 41Average copper price received
Average copper price received increased 6.6% to US$7,421/t (LME copper price up 15.7% to US$10,040/t)
page 42The Board believes that by deploying the proceeds from the disposal in the opportunities presented by copper mining and processing successfully in Zambia, the Group will be on a path to sustained growth and profitability
page 11No dividend was declared or recommended for FY2025 (FY2024: nil). The Board has stated the Disposal proceeds could support a sustainable share buyback programme and/or the implementation of a dividend policy in future
page 1111 years on one page · FY2015–FY2025
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GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
37 figures restated in a later report
Every figure is read again from the following year’s report: 280 confirmed, 50 differ, 37 restated.
| Line | Year | As first filed | In the later report |
|---|---|---|---|
| FY2023 | £1.2mFY2023 report | £1.5mFY2024 report | |
| FY2023 | £14.2mFY2023 report | £17.9mFY2024 report | |
| FY2023 | £9.1mFY2023 report | £11.1mFY2024 report | |
| FY2023 | £33.8mFY2023 report | £52.9mFY2024 report | |
| FY2023 | £8.6mFY2023 report | not printedFY2024 report | |
| FY2023 | £12.6mFY2023 report | £15.9mFY2024 report | |
| FY2023 | £7.7mFY2023 report | £9.3mFY2024 report | |
| FY2023 | £28kFY2023 report | £34kFY2024 report | |
| FY2023 | −£512kFY2023 report | −£261kFY2024 report | |
| FY2023 | £31.4mFY2023 report | £37.8mFY2024 report | |
| FY2023 | £5.2mFY2023 report | £6.2mFY2024 report | |
| FY2023 | £35.7mFY2023 report | £62.3mFY2024 report | |
| FY2023 | £24kFY2023 report | £31kFY2024 report | |
| FY2023 | £336kFY2023 report | £406kFY2024 report | |
| FY2023 | £3.2mFY2023 report | £4.0mFY2024 report | |
| FY2023 | £31.0mFY2023 report | £49.9mFY2024 report | |
| FY2023 | −£2.9mFY2023 report | −£3.2mFY2024 report | |
| FY2023 | £3.5mFY2023 report | £4.3mFY2024 report | |
| FY2023 | £12.9mFY2023 report | £15.5mFY2024 report | |
| FY2023 | £15.5mFY2023 report | £18.7mFY2024 report | |
| FY2023 | £88.7mFY2023 report | £112mFY2024 report | |
| FY2023 | £12.3mFY2023 report | £14.8mFY2024 report | |
| FY2023 | £938kFY2023 report | £1.2mFY2024 report | |
| FY2023 | £142mFY2023 report | £171mFY2024 report | |
| FY2023 | £54kFY2023 report | £69kFY2024 report | |
| FY2023 | £436kFY2023 report | £579kFY2024 report | |
| FY2023 | £4.6mFY2023 report | £5.5mFY2024 report | |
| FY2023 | −£688kFY2023 report | −£829kFY2024 report | |
| FY2023 | £2.0mFY2023 report | £2.2mFY2024 report | |
| FY2023 | £300mFY2023 report | £380mFY2024 report | |
| FY2023 | £98.0mFY2023 report | £124mFY2024 report | |
| FY2023 | £77.9mFY2023 report | £98.6mFY2024 report | |
| FY2023 | £205mFY2023 report | £259mFY2024 report | |
| FY2023 | £95.5mFY2023 report | £121mFY2024 report | |
| FY2023 | £59.6mFY2023 report | £75.5mFY2024 report | |
| FY2023 | £29.7mFY2023 report | £37.6mFY2024 report | |
| FY2023 | £17.4mFY2023 report | £20.4mFY2024 report |