Targeting 10,000-Tonne Annual Boost in 2026 as Company Consolidates Zambian Footprint
Jubilee Metals Group is rapidly advancing its copper operations in Zambia, with the company confirming that all foundational assets are now in place to support its long-term copper growth strategy. CEO Leon Coetzer announced that Jubilee is well-positioned to ramp up production and unlock substantial new value from its Zambian portfolio.
Leveraging its extensive processing expertise honed in South Africa’s chrome and platinum group metals (PGM) sectors—assets now in the final stages of divestment—Jubilee has pivoted to a more vertically integrated copper model in Zambia, underpinned by company-owned resources rather than reliance on third-party feed.
Three-Pillar Strategy Driving Growth
At the heart of Jubilee’s Zambian copper expansion lies a robust, three-pillar strategy:
- Sable Refinery – The core processing hub for cathode copper production.
- Munkoyo Open-Pit Mine – A growing asset with recent drilling activity pointing to potential resource consolidation.
- Project G – An upcoming operation designed to expand upstream supply and throughput.
Together, these projects form the foundation of Jubilee’s copper cathode production, while the company also holds extensive exploration rights across Zambia to secure a strong long-term pipeline.
Roan Concentrator Outperforms
Jubilee’s Roan Concentrator—dedicated to processing third-party copper ore and reclaiming material from historical tailings—has delivered promising results. In July, the upgraded facility exceeded its monthly production target, generating 384 tonnes of copper, outpacing the 350-tonne target set for August.
Roan also has access to a 240-million-tonne tailings dump, which Jubilee is systematically reprocessing for copper recovery, providing a significant buffer for sustained output.
Munkoyo Delivers Drilling Success
At the Munkoyo mine, Jubilee recently launched a new drilling campaign in partnership with a seasoned exploration firm. Early results from the first eight holes suggest the potential to merge multiple pits into a single, high-volume open-pit operation. This could support a high-grade run-of-mine (RoM) feed of 6,500 to 8,500 tonnes per month at 2.5% copper.
Moreover, the updated pit designs now incorporate a newly identified copper sulphide orebody beneath the oxide zone—significantly increasing the site’s long-term production prospects.
2026 Production Outlook: Up to 15,100 Tonnes Possible
For the 2026 financial year, Jubilee has set a copper production guidance range of 2,300 to 5,100 tonnes, with capital-dependent projects having the potential to lift this by an additional 10,000 tonnes annually. These include further development of Project G and optimization across the asset base.
Coetzer said the company is building a resilient and self-sufficient production platform in Zambia:
“By allocating Roan to high-grade third-party and reclaimed feed, while scaling Munkoyo and Project G through Sable, we’re building a stable copper base. We’ve also resolved energy constraints and secured new supply agreements with better margins.”
Strategic Shift from South Africa to Zambia
Jubilee’s evolving copper strategy mirrors its earlier success in South Africa, but with a key distinction: full control of feedstock. This provides greater stability, margins, and expansion flexibility.
“We are uniquely positioned to process large volumes of transitional copper reefs,” Coetzer added. “We’ll soon release updated guidance reflecting new supply agreements and output targets.”
To support this growth, the company is considering a joint venture model for its mining assets, allowing Jubilee to retain its processing focus while expanding in a capital-efficient, non-dilutive way.
Meanwhile, Jubilee confirmed that definitive agreements to sell its chrome and PGM assets in South Africa are nearing conclusion, marking a strategic shift toward copper as its core business going forward.
