Wrap Text
Roan Project Commences Operations
Jubilee Metals Group PLC
Registration number (4459850)
AIM share code: JLP
Altx share code: JBL
ISIN: GB0031852162
("Jubilee" or "the Company" or "the Group")
Dissemination of a Regulatory Announcement that contains inside information according to UK
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from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations
of such jurisdiction.
Roan Upgrade Project Commences Operations
Jubilee, a diversified metals producer with operations in South Africa and Zambia, is pleased to
announce the commencement of operations at its Roan Upgrade project in Zambia. The
commencement of the newly constructed front-end section of the Roan operation adds additional
processing capacity and flexibility to the already operating Roan milling and flotation sections.
Highlights
• Jubilee commences operations at its newly constructed Roan front-end upgrade project.
• Roan's new front-end capacity has been constructed adjacent to the already operating milling
and flotation circuits increasing the overall capacity of Roan to a maximum design of 13 000
tonnes of copper per annum (tpa).
• The Roan front-end upgrade forms part of Jubilee's overall operational capacity increase
strategy which includes the Sable refinery upgrade project currently underway, targeting to
reach a combined processing capacity of 25 000tpa of copper over the coming 12 months.
Leon Coetzer, CEO commented:
"We are proud to announce that the Roan front-end module upgrade project in Zambia has
commenced production ramp-up of previously mined material, which has been upgraded at source,
prior to producing a saleable copper concentrate at Roan.
It has taken a concerted effort by the team to reach this critical point in the ramp-up of the Roan
Upgrade project. I look forward to the team completing an accelerated ramp-up of operations during
the coming month.
The upgraded Roan, together with our Sable refinery, offers Jubilee tremendous processing flexibility
and affords us the unique opportunity to aggressively pursue copper resources that are unlocked by
this capability."
Zambian Copper Strategy
Jubilee's copper strategy is enabled by Jubilee's proven ability to extract value from materials often
regarded by the industry as either waste or too complex to extract economically through the
traditional methods.
The targeted copper resources are classed into three groups namely:
- Previously Processed Material (includes tailings, partially processed discarded low-grade
materials)
- Previously Mined Material (includes historically stockpiled low grade mined material, over
burden rock, such as the previously announced Waste Rock Project transaction)
- Open-pit Mining of near surface copper reef (such as the previously announced Munkoyo
operation and Project G)
All three categories are held in vast quantities within Zambia, offering Jubilee the opportunity to
further upscale its operations through targeted acquisitions of these resources. Jubilee has actively
pursued the three material classes to grow its copper resource portfolio as an enabler to drive the
expansion of its processing operational footprint in Zambia. The success in securing these targeted
resources has afforded Jubilee the opportunity to transition Sable into a dedicated refiner for the
processing of Open-pit Mining operations such as the recently announced Munkoyo operation, while
the upgraded Roan will process predominantly Previously Mined and Processed Material.
At completion, an expanded Sable and Roan will operate as independent operations. Once Sable is at
full capacity supplied by Open-pit Mining operations, Roan can sell excess concentrate in the open
market. The Company is reviewing the option of expanding the Roan operation to incorporate
downstream refining of its concentrate depending on capital allocation. The targeted combined
processing capacity of approximately 25 000tpa of copper, is achieved by an expanded Sable at 16
000tpa in addition to Roan's expanded capacity.
Roan Upgrade
Following the release on 24 June 2024 announcing civil and mechanical completion on the upgrade
and expansion of Roan (Roan Upgrade), the electrical control system (ECS) has now also been
successfully installed and commissioned, allowing for the ramp up of production to commence.
The Jubilee team has begun with the feeding of Previously Mined Material into Roan. The material is
upgraded at source before being transported to Roan where a saleable copper concentrate is
produced. The copper concentrate will initially be refined to copper cathode at Sable until such time
that Sable's capacity is fully committed to the Open-pit mined material from Munkoyo and Project G
whereafter the Roan concentrate will be traded on the open market.
This Roan Upgrade provides additional processing capacity complementing the existing sulphide
copper concentrate capacity at Roan to a combined maximum design capacity of 13 000tpa of copper
depending on the copper feed grades.
Website Updates
For more information about the sources of feed processed by Jubilee in Zambia, please refer to the
presentation uploaded on our website. Furthermore, a second video of Project Munkoyo has been
uploaded on the website showcasing the commencement of mining operations and the establishment
of facilities during July 2024.
8 August 2024
**ENDS**
For further information visit www.jubileemetalsgroup.com, follow Jubilee on Twitter
(@Jubilee_Metals) or contact:
Jubilee Metals Group PLC
Leon Coetzer (CEO) / Neal Reynolds (CFO)
Tel: +27 (0) 11 465 1913
Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/James Keeshan
Tel: +44 (0) 20 3368 3555
PR & IR Adviser - Tavistock
Jos Simson/ Gareth Tredway
Tel: +44 (0) 207 920 3150
Joint Broker – RBC Capital Markets
Farid Dadashev/Jamil Miah
Tel +44 (0) 20 7653 4000
Joint Broker - Zeus Capital
Harry Ansell/Katy Mitchell
Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618
JSE Sponsor - Questco Corporate Advisory Proprietary Limited
Alison McLaren
Tel: +27 (0)11 011 9207
About Jubilee
Jubilee is a low-cost, diversified producer, specialising in the recovery of metal from previously
overlooked resources, such as unprocessed historical waste rock, run-of-mine materials and tailings
in South Africa and Zambia. The Company's low-capex, modular processing facilities are deployed
close to these various types of material, producing high grade concentrates for sale or further refining
to finished metal at the Company's downstream facilities. Production currently consists of copper,
chrome and platinum group metals (PGMs). The modular processing facilities offer a platform for
growth and the rapid expansion of its operational footprint. Jubilee's success is derived from
operational excellence, a highly experienced management team and a pioneering Technical
Development Centre.
Date: 08-08-2024 08:40:00
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