TIDMJLP
RNS Number : 8475J
Jubilee Metals Group PLC
21 August 2023
Jubilee Metals Group PLC
Registration number (4459850)
Altx share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or "the Company" or "the Group")
Dissemination of a Regulatory Announcement that contains inside
information according to UK Market Abuse Regulations. Not for
release, publication or distribution in whole or in part in, into
or from any jurisdiction where to do so would constitute a
violation of the relevant laws or regulations of such
jurisdiction.
South Africa and Zambia Project Expansion Update
Jubilee Metals Group PLC (AIM: JLP; Altx: JBL), a leader in
diversified metals processing, with operations in Africa, is
pleased to provide an update on the chrome joint venture ("JV") in
South Africa as well as an update on the expansion of its Roan
Concentrator ("Roan") in Zambia.
Strategy and growth projects
PGM and chrome expansion
-- Successful upgrade, implementation and commissioning of an
existing brownfield processing facility, on the western limb of the
Bushveld Complex, has now been completed reaching targeted
operational output.
-- As announced on 6 June 2023, the long-term chrome processing
partnership provides the potential for additional chrome processing
capacity of 360 000 tonnes per annum targeting an additional 200
000 tonnes of chrome concentrate and adding an additional 10 000
PGM oz per annum to Inyoni's profile.
-- The expansion of the chrome operations comes at an opportune
time with supportive chrome prices and strong market support
further extending operating margins:
o A total of 24 500 tonnes of newly produced final chrome
product already traded and on track to trade an additional 17 000
tonnes of metallurgical grade per month
o Expected to contribute an additional 60 000 tonnes of chrome
concentrate for the half year ending Dec 2023 and 4000 PGM oz.
-- The Company is in advanced discussions to conclude its next
partnership agreement targeting an additional 600 000 tonnes per
annum processing capacity.
Copper
-- Roll-out of copper expansion strategy in Zambia progressing
ahead of schedule with all long lead items secured for Roan
upgrade:
o Delivery of equipment and on-site assembly scheduled to
commence in early September 2023.
o Commissioning remains on track to commence in October
2023.
o At completion, Roan will hold the unique capability to process
a variety of ROM and waste sources.
o Jubilee has secured an additional 6-year Copper ROM supply at
Roan on the back of the targeted expansion of the operations. The
ROM supply agreement targets the supply of a minimum of 2% total Cu
grades of previously mined material.
o The new ROM supply will form the base load material to be
processed through the upgraded front-end of Roan and account for
approximately 60% of the stated capacity at Roan.
o The new modular designed Roan front-end, offers the
opportunity, similar to the chrome business model, to rapidly
deploy satellite modular units to upgrade remote feed sources for
further refining.
-- Results from the Northern refining process trials which were
initiated to understand the extent of the waste and non-traditional
ore opportunities, delivered encouraging results, exceeding
expectations in copper recoveries achieved from historical tailings
materials.
o The process trials, a culmination of 3 years of research and
development, targeted the use of a low capital-intensive solution
to produce a high-grade copper concentrate for further
refining.
o The results achieved motivated the decision to immediately
commence with the implementation of a bulk semi-commercial pilot
facility at the Luanshya tailings facility which will be completed
over the next 12 weeks.
o Results from the pilot trials, which target feed batches of
approximately 500 tonnes at a time, will be used to confirm the
design assumptions on scalability of the process flowsheet and to
confirm final plant unit sizes. The bulk pilot facility is a
critical final step towards confirming the design detail for the
large-scale operational solution.
Statement from Leon Coetzer, CEO :
"Our chrome production units form a vital part of the South
African business' profitability and cost competitiveness,
especially at a time when chrome prices are particularly strong,
and this largely offsets the weakness in the PGM basket price. The
strength and robustness of our diversified metal focus is best
demonstrated during such volatility in metal prices where both
chrome and copper are seeing strong price support, offsetting the
weakness in both PGMs and cobalt.
"The expansion of our chrome operations intends to take
advantage of price support in the market for chrome, coupled with
our continued strong operational performance.
"The upgrade of our Roan concentrator forms a vital link to the
processing solution for the much larger Northern Refining solution
and sets a new standard in the processing of mixed copper ores in
Zambia. The upgrade incorporates both the technical developments
and lessons learnt from our South African operations as well as key
breakthroughs in the processing of these weathered ores that many
regard as too complex and reject the material as waste.
"I am particularly excited by the results achieved from our
Northern Refinery trials. The copper recoveries exceeded our
expectations and confirmed the potential of the process route that
we are developing. This process solution offers tremendous
potential to deploy a low-cost efficient copper processing solution
for the vast historical tails in Zambia.
"We have agreed to immediately progress with the implementation
of a bulk pilot facility to confirm scaling of the process as a key
input into the design of our large-scale process facility. Results
from the pilot trials which targets feed batches of approximately
500 tonnes at a time will be used to confirm the design assumptions
on scalability of the process flowsheet to confirm final plant unit
sizes.
"Jubilee is on an exciting growth path both in South Africa on
the back of its proven operational success, as well as in Zambia
reaching the completion of the in-depth development work for the
design of our copper tailings processing solution. I look forward
to providing further updates as the project reaches completion and
I am excited about the potential it offers Jubilee."
21 August 2023
FOR FURTHER INFORMATION VISIT WWW.JUBILEEMETALSGROUP.COM OR
PLEASE CONTACT:
Jubilee Metals Group PLC Tel: +27 (0) 11 465 1913
Leon Coetzer
PR & IR Adviser - Tavistock Tel: +44 (0) 20 7920 3150
Jos Simson/ Gareth Tredway
Nominated Adviser - SPARK Advisory Tel: +44 (0) 20 3368 3555
Partners Limited
Andrew Emmott/ James Keeshan
Joint Broker - Berenberg Tel: +44 (0) 20 3207 7800
Matthew Armitt/ Jennifer Lee/ Detlir
Elezi
Joint Broker - WHIreland Tel: +44 (0) 20 7220 1670/
Harry Ansell/ Katy Mitchell +44 (0) 113 394 6618
JSE Sponsor - Questco Corporate Advisory Tel: +27 (0) 11 011 9207
Pty Ltd
Alison McLaren
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCEAEPEADFDEAA
(END) Dow Jones Newswires
August 21, 2023 02:00 ET (06:00 GMT)
Jubilee Metals (LSE:JLP)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
Jubilee Metals (LSE:JLP)
Historical Stock Chart
Von Mai 2023 bis Mai 2024