Jubilee Metals, a diversified metals processor focusing on Zambia and South Africa, has finalized the construction of a new front-end modular unit capable of processing 50,000 tons per month at its Roan copper processing facility in Zambia. Designed by the Jubilee Technical Services team in South Africa and shipped to Zambia in February, this plant will facilitate the processing of multiple feed sources, allowing Roan to handle over 1,000 tons per month of copper contained in concentrates upon commissioning.
Concurrently, Jubilee has implemented optimization measures at Roan to maintain copper sulphide concentrate production at 50% of its current capacity. These initiatives have effectively increased the copper content in the concentrate from 20% to over 25%, enhancing revenue potential in the market.
Moreover, Jubilee’s Project Munkoyo has made significant progress since the signing of a copper ore offtake agreement in November 2023. Trials involving approximately 80,000 tons of run-of-mine material from the surface Munkoyo deposit have revealed copper ore grades ranging from 1.5% to 3%. This discovery marks a substantial opportunity for Jubilee to secure a long-term supply for its Sable Refinery.
Additionally, Jubilee has undertaken exploration and aerial surveying of the Munkoyo license area, uncovering the potential for a new copper resource along a one-kilometer strike. Following successful testing, the company has secured an option to acquire the license for up to $1.5 million.
The company plans to further develop the Munkoyo project with a trenching program followed by a drilling program in the second quarter. Concurrently, they intend to excavate a deeper test pit to access material below the current level, with ore sent to Sable for processing.
Looking ahead, Jubilee aims to construct an upgrading copper process module at Munkoyo, with plans to secure similar opportunities in Zambia where surface open-pit copper reefs have been abandoned. These endeavors align with Jubilee’s strategy of leveraging processing capability to unlock overlooked copper resources.
Furthermore, Jubilee’s Waste Rock Project, undertaken in partnership with International Resource Holdings (IRH), involves utilizing modular copper units to produce approximately 24,000 tons per year of copper units from surface waste. With a total projected investment of about $50 million funded by IRH, this project underscores Jubilee’s commitment to expanding its processing capacity while capitalizing on overlooked resources.
