Jubilee Metals’ Roan copper concentrator in Zambia achieves operational success

JUBILEE Metals Group’s Roan copper concentrator in Zambia is fully operational following an upgrade, exceeding July’s targeted production by reaching 384 tons of copper units.

- EDWARD WEST

The mining group, which aims to become a significant copper explorer, miner, and producer of concentrates and refined cathodes in Zambia, stated in an update on Wednesday that Roan’s production in August was already above the targeted production rate of 350 tons.

The Roan project, first announced by Jubilee in 2021 and upgraded in phases, is the cornerstone of the company's copper production ambitions alongside the Sable refinery.

Jubilee is currently disposing of its South Africa-based chrome and platinum operations, with agreements in final form, and a shareholders’ meeting is being scheduled soon. Jubilee's share price sank 5.4% to 70 cents on the JSE on Wednesday afternoon.

“I am pleased to report significant progress across our Zambia portfolio, which has all the assets we need to maintain momentum on our copper expansion strategy,’ said Jubilee’s CEO Leon Coetzee in a statement.