Jubilee Metals Group PLC
Jubilee Metals Group PLC
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African-focused diversified metal recovery business Jubilee posted March qtr (Q1FY2022) production of 8,018oz platinum group metals, a 75% increase on the previous two periods, following the £39.5M expansion and optimisation program at its 100%-owned Inyoni operations in South Africa.
Jubilee expects the program will enable it to lift Inyoni production to 44,000ozpa PGM, from its own previous 30,000ozpa design capacity.
Metals recovery specialist Jubilee begins to see significant results from a bold £39.5M expansion and optimisation program at its South African platinum group metals and chrome operations and Zambian copper and cobalt tailings projects.
African metals recovery specialist Jubilee aims to begin the transport of material this month after acquiring rights to 944,000t PGM-containing surface tailings in the Eastern Limb of South Africa’s Bushveld Complex, on top of the acquisition of 255,000t and the signing of a 10-year plus feed supply agreement with a chrome mining customer.
CEO Leon Coetzer says the expansion to the Eastern Limb has been a key focus of Jubilee’s strategy to expand its PGM reach and operational capacity.
African focused metal recovery leader Jubilee has expanded its international reach with a six-month exclusive agreement to assess the surface-based assets of Caerus Mineral Resources in Cyprus.
The company will seek copper and gold mineral resources in mining waste and tailings at 16 historic mines held by Caerus, converting any capable of being scaled up into profit-sharing JVs funded and operated by Jubilee.
Jubilee Metals has nearly doubled its access rights to surface tailings with copper and cobalt content in Zambia, securing exclusive processing rights with a number of private entities.
The new agreement adds about 115Mt Cu+Co to the 155Mt it previously secured, advancing the UK-based company’s growth strategy in Zambia.
Jubilee says its secured pipeline of copper projects in Zambia places it on track to expand its copper producing capacity to over 25,000tpa CuEq.
The return to full operations status from COVID-19 restrictions has gone strongly for South African-based metals recovery specialist Jubilee, which has delivered record production and financial performance in the Sept qtr (Q3).
The record PGM production of 15,044oz was supported by 136,162t chrome concentrate produced under tolling agreements with external suppliers. Operational earnings posted another record ZAR332.36M.
Metals recovery specialist Jubilee has opened up the potential to significantly expand its Inyoni operations with agreement to recommission and operate the ROM chrome beneficiation plant adjacent to its site in South Africa’s Bushveld Complex.
The agreement comes with a guaranteed supply of 40,000tpm ROM material containing chrome and PGM, with potential to increase to 80,000tpm. It will also be able to further process PGM-bearing tailings from the chrome plant at its Inyoni PGM recovery plant.
Jubilee Metals Group has secured the expansion of its South African chrome and PGM operations with the signing of a third party ROM offtake agreement for the whole 40,000tpm capacity of the new chrome processing facility at its Windsor operations in the Western Bushveld Complex for 3 years.
The UK-based company says the deal secures the supply of quality feed to Windsor for 100% operating capacity while also significantly increasing feed material to its PGM plants.
Jubilee Metals has advanced its strategy to expand operations in Zambia with the signing of a JV agreement aiming to commence copper concentrate production within four months from an initial 2Mt ROM material at over 2% Cu, targeting production of an additional 10,000tpa CuEq.
The $US15M project includes construction of a 600,000tpa copper concentrating facility on a brownfields site adjacent to the tailings that will produce concentrate for further refining at Jubilee’s Sable refinery.
Jubilee Metals has set itself the longer-term target of exceeding 25,000tpa copper production at its Sable refinery in Zambia after securing rights to about 150Mt copper in surface tailings in JV with Star Tanganika.
The company aims to produce copper concentrate through a dedicated onsite facility that it will construct.
Jubilee said the Tanganika agreement could produce more copper concentrates that the Sable refinery’s 14,000tpa copper cathode capacity and more than double its current earnings profile.