Jubilee pivots to copper, cops flak for PGM exit
Miner shifts focus from platinum to pursue growth prospects in Zambia
Jubilee Metals’ decision to sell its South African platinum group metals (PGM) and chrome operations for up to $90m and focus instead on its Zambian copper assets couldn’t have come at a more striking time. Just weeks after the announcement, the platinum price surged to a new 11-year high, sparking a flurry of commentary questioning whether the company was making a strategic misstep — or simply selling too cheaply.
But that criticism may be misplaced. Unlike investors, company directors don’t have the benefit of a stop loss. They must make decisions based on long-term fundamentals, rather than short-term price spikes. And while platinum has enjoyed a strong rally, the broader PGM complex still faces serious structural headwinds...
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