In the mining space, London-headquartered Jubilee continued progressing towards a full exit from South Africa. Jubilee Metals Group PLC has now said that it has completed the sale of its chrome and platinum group metal operations in South Africa.

In June last year, Jubilee received a ‘conditional binding offer’ from One Chrome (Pty) Ltd to acquire Jubilee’s chrome and PGM assets for up to $90 million, which amounted to around R1.60 billion at the time. Jubilee said the assets had reached a mature stage, with limited growth potential without significant capital investment. The disposal allows the company to focus on its copper operations, which require a dedicated management and funding structure. Jubilee will solely focus on its Zambian copper business, which includes the Molefe open-pit copper mine, Sable refinery and Roan copper concentrator plant.

It has stated that it has retained its investment in the Tjate platinum project in South Africa as it continues to explore options to monetise this asset.

“I am pleased to report that we have executed this transaction within the timelines stipulated when first announced,” Jubilee Chief Executive Officer Leon Coetzer said.

For the 12 months to 30 June 2025 copper production declined by 35% to 2 211 tons from 3 422 tons.

Transalloys issues retrenchment notices
The operator of South Africa’s last remaining manganese smelter said it may have to cut as many as 600 jobs as high power prices undermine the viability of its business.

Transalloys (Pty) Ltd. issued retrenchment notices to staff and is running only two of its five furnaces, the company, based in the coal-rich town of eMalahleni, east of Johannesburg, said in a recent statement.

Surging South African power prices and competition from China have hit local processors of ferrochrome and manganese, both of which are key ingredients in steelmaking. The country has about three-quarters of the world’s identified manganese-ore reserves.

“We are competing against international smelters whose electricity costs are roughly half of ours,” Transalloys Chief Executive Officer Konstantin Sadovnik said in the statement. “That gap makes sustained operation impossible.”

Glencore’s ferrochrome unit has said it would shut two operations. In November 2026, labour union Solidarity said Samancor Chrome Ltd. may cut almost 2 500 jobs as it curtails operations.

South Africa’s government has acknowledged the pressures on the ferrochrome industry, with the cabinet approving a plan in June to negotiate new electricity prices and introduce potential controls and taxes on chrome-ore exports. But the reforms have yet to be finalised, and the export levy is unpopular among miners.

“Manganese processing faces “harsher conditions than the ferrochrome sector,” given it is more energy-intensive,” said Sadovnik.