Jubilee Metals Group expands Zambian copper operations with strategic acquisitions

Jubilee Metals Group PLC, a diversified metals producer operating in South Africa and Zambia, has made significant advancements in its Integrated Copper Strategy in Zambia. The company recently completed crucial upgrades at its Roan facility and expanded its copper resource base through the acquisition of two operational copper mines.

The Roan facility, crucial to Jubilee’s copper production strategy, has seen the completion of both civil and mechanical construction, with commissioning activities now underway. This upgrade enhances the plant’s capacity and efficiency, preparing it for increased copper production. Concurrently, Jubilee has secured two additional copper resources, significantly bolstering its operational footprint in Zambia.

The acquisitions involve two operational open-pit mines, enhancing Jubilee’s access to near-surface copper material. These mines are expected to support the expansion of Jubilee’s Sable refinery, with a target production capacity of 16,000 tonnes per annum of copper. Specifically, Project M and Project G, as the mines are known, will contribute significantly to meeting and potentially exceeding this target with their high-grade copper output.

Project M’s acquisition was settled through a combination of cash and the issuance of new Jubilee shares, totaling approximately £1.75 million. Similarly, Project G involved a transaction of around £2.1 million, settled through new share issuances. These strategic moves are designed to align the interests of current mine owners with Jubilee’s long-term goals in the region.

Leon Coetzer, CEO of Jubilee Metals, expressed optimism about the rapid progress and strategic acquisitions. “These initiatives not only enhance our processing capabilities but also position us to aggressively pursue further copper resource opportunities in Zambia,” stated Coetzer. He emphasized the dual benefit of these developments in enhancing both operational flexibility and market reach.

Jubilee’s strategy in Zambia leverages the country’s rich copper resources and the company’s expertise in metallurgical processing to optimize the value of what were previously considered marginal or complex resources. The integrated approach of utilizing both Roan and Sable facilities allows for a diversified production strategy that can adapt to varying ore grades and market demands.

With the Roan upgrade and the new acquisitions, Jubilee is well-positioned to significantly increase its copper output. The company aims to achieve a combined processing capacity of about 25,000 tonnes per annum of copper, aligning with its strategic goals to expand its footprint in the copper-rich regions of Zambia.

Jubilee Metals’ strategic expansions in Zambia represent a robust model for growth in the mining sector, particularly in regions rich in natural resources but underexploited. By enhancing both mining and processing capabilities, Jubilee sets a precedent for sustainable mining practices that could be mirrored by other firms in the industry.