Jubilee’s Strategic Copper Expansion in Zambia

A prominent player in metals processing across Africa, Jubilee, has shared the latest developments in its copper operations in Zambia. The company is strategically pursuing a significant expansion to achieve an initial target of 25,000 tonnes of copper per annum. This expansion encompasses both augmenting Jubilee’s copper resource base and enhancing processing capacity, with a particular focus on its Roan Concentrator and Sable Refinery.

The expansion of the Roan concentrator’s front end is on schedule, set for commissioning by the end of Q1 CY2024. Despite logistical challenges at South African ports, the project is progressing toward producing 13,000 tonnes per annum of copper contained in concentrates. Manufacturing and testing of a new 50,000 tonnes per month copper processing module are completed, with components prepared for transit to Roan for commissioning.

Sable Refinery’s engineering designs are underway for a new copper concentrate line, aiming to increase processing capacity to 16,000 tonnes per annum of copper contained in cathode and concentrates. Construction is set to commence in Q2 CY2024.

An independent survey indicates a minimum volume of 260 million tonnes of material at the project site. Processing trials on initial bulk samples confirm the ability to produce high-grade copper concentrate, positioning the project as a potential supplier to Sable refinery and major producers.

Approximately 80,000 tonnes of mined ore from Munkoyo have been tested at Sable, revealing copper ore grades between 1.5% to 3%. Initial exploration indicates a one-kilometre-long copper anomaly, prompting an accelerated exploration program aiming for production levels of around 25,000 tonnes of ROM per month in the next 12 months. Jubilee has secured an option to acquire Munkoyo for up to US$1.5 million.

Jubilee’s Chief Executive Officer Leon Coetzer, expressed satisfaction with the progress, emphasising the company’s ability to unlock overlooked copper resources. He highlighted the discovery of a one-kilometre-long copper anomaly at Munkoyo, calling it a testament to Jubilee’s proficiency in converting abandoned surface projects into viable opportunities through processing excellence.

Manufacturing of the new front-end modular unit is complete, set to be shipped to Zambia in February 2024. Optimisations at Roan have increased copper content in sulphide concentrate, ensuring production continuity while awaiting the new module.

Design phase for expanding the copper sulphide concentrate circuit is underway, with construction scheduled to begin in Q2 CY2024, targeting a capacity increase to 16,000 tonnes per annum.

Trials on 80,000 tonnes of ROM material from Munkoyo have shown copper ore grades between 1.5% to 3%. An option to acquire the license for up to US$1.5 million has been agreed upon. Excavation and exploration plans are set for Q2 CY2024.

Jubilee secured one of Zambia’s largest copper waste rock assets, with a minimum of 260 million tonnes identified. Surface sampling shows promising copper grades above 1.5%. The Waste Rock Project aims to produce 24,000 tonnes of copper units per year, with a targeted completion date of 29 February 2024.

Jubilee remains committed to its goal of achieving 25,000 tonnes of copper per annum, actively seeking similar opportunities in Zambia to further expand its copper resource base and processing capacity.

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