Jubilee rolls out Zambia's integrated copper strategy, acquires two near-surface copper mining operations

Jubilee Metals, a diversified metals producer, has rolled out its integrated copper strategy in Zambia.

It said the upgrade and expansion of Roan has completed civil and mechanical construction, and commissioning activity commenced.

The company classed the targeted copper resources into three groups namely tailings and partially processed discarded low-grade materials; stockpiled low-grade material; and near-surface copper reef that is accessible through open-pit mining.

It said all three categories were held in vast quantities within Zambia, offering Jubilee the opportunity further to upscale its operations through targeted acquisitions of these resources.

Jubilee has actively pursued the three copper resource groups to grow its copper portfolio as an enabler to expand its processing and operational footprint in Zambia. 

It said the success in securing these targeted resources has allowed Jubilee to transition Sable into a dedicated refiner for the processing of material from open-pit operations, while the upgraded Roan will be processing predominantly low-grade material and previously processed materials. 

At completion, an upgraded and expanded Sable and Roan will operate as independent operations. 

The targeted combined processing capacity of about 25,000 tonnes per annum (tpa) of copper is achieved by an expanded Sable at 16 000tpa and Roan at 8 000 to 9 000tpa of copper.

Meanwhile, Jubilee acquired two copper resource transactions of operating open-pit mines accessing near-surface copper material, which significantly increases its copper resource base.

The acquisition includes project M - which has commenced with the delivery of material to Sable three months ahead of schedule targeting to reach 25 000 tonnes per month (tpm) at a grade of between 3 and 4% Cu within the third quarter of 2024 and project G - an operating open-pit copper mine targeting to ramp-up to 20 000 tpm at a grade of 3 to 4% Cu within the fourth quarter of 2024.

“The strategic acquisition of the two open-pit operations is an example of our ability to leverage our process capability to secure significant near-surface copper resources already in operation,” said company chief executive Leon Coetzer.

He said the company’s copper production is on track to meet its revised copper guidance of 3 250 to 4,000 tonnes.