Competition Tribunal approves sale of Jubilee’s South African operations
Jubilee, the Zambia copper-focused producer, is pleased to announce that South African Competition Tribunal has issued the Company with a merger clearance certificate, and as such, has unconditionally approved the sale of the South African Chrome and PGM Operations to One Chrome (Pty) Ltd.
Approval of the South African Reserve Bank is still required, and Jubilee does not envision this being reasonably withheld.
The last material condition precedent is audit related. This workstream is well underway and is expected to be completed by 30 November 2025. Following completion of the disposal, which is expected by the end of CY2025, the Company will be focused solely on its Zambian copper projects whilst retaining its investment in the Tjate platinum project in South Africa.
If all of the suspensive conditions of the disposal are not satisfied or waived by 31 December 2025 then the sale agreement may be terminated by either Jubilee or One Chrome.
