Business
Operational Update for full year to 30 June 2023
Operational Update for full year to 30 June 2023.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n\nJubilee Metals Group PLC \nRegistration number (4459850) \nAltx share code: JBL \nAIM share code: JLP \nISIN: GB0031852162 \n(\"Jubilee\" or \"the Company\" or \"the Group\") \n \nDissemination of a Regulatory Announcement that contains inside information according to UK Market Abuse Regulations. Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction. \n\nOperational Update for the full year to 30 June 2023\nJubilee Metals Group PLC (AIM: JLP; Altx: JBL), a leader in diversified metals processing, with operations in Africa, today publishes its unaudited Operational Update for the 12 months to 30 June 2023 (\"FY2023\").\nOverview for FY2023\n§ Lost time injury frequency rate (LTIFR) of 1.5 in South Africa; LTIFR of 2.36 in Zambia.\n§ Strong operational performance from the South African PGM and chrome operations exceeding guidance and reflecting the ability to successfully navigate power and infrastructure challenges in South Africa.\n \n§ PGM operations recorded 42 474 oz (FY2022: 41 456 oz).\no PGM production increased 2% on FY2022, exceeding full year guidance of 38 000 oz.\no Initial impact of power outages in South Africa addressed via increased stock holding and installation of back-up power units at chrome operation in November 2022.\n \n§ Chrome production up 7% to 1 289 890 tonnes (FY2022: 1 207 947 tonnes) exceeding full year guidance of 1 200 000 tonnes.\no New 360 000 tonne per annum chrome concentrate facility completed during June, already delivering first saleable product in June 2023.\n \n§ Copper production of 2 923 tonnes up 29% (FY2022: 2 269 tonnes) marginally below revised guidance of 3 000 tonnes primarily due to previously announced H1 FY2023 power and water disruptions in Zambia, impacting ramp-up of the Roan Concentrator.\no H1 FY2023 power and water disruptions resolved with new privately owned water infrastructure implemented (Dec 2022).\no Expanded power infrastructure implemented (Feb 2023).\no Decision reached on the revised expansion strategy to upgrade Roan as central processing hub to accommodate more copper waste feed str...