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Metals processing group Jubilee Metals reported a jump in earnings as revenue more than doubled as the company met its first-half operational targets.
For the six months to 30 June 2021, attributable operational earnings increased 178% to £69.6 million as revenue increased 46% to £127.6 million.
Jubilee achieved its stated target of 50,162 PGM ounces for FY 2021, up 23% compared with 40 743 ounces for FY 2020.
'Achieving our first delivery, on time, of partially upgraded copper concentrate from project Roan to the fully operational sable refinery was the first major step in our commitment to achieve our targeted production of 25 000 tonnes per annum of copper within the next four years,' the company said.
'Commissioning of the integrated copper concentrator is scheduled to commence in Q1 2022, while our second copper project, located in the Luanshya area, has completed the development programme and is concluding the detail design phase to commence shortly with the implementation programme.