Jubilee Metals Group (LON :JLP) CEO Leon Coetzer joins DirectorsTalk to discuss the completion of the Sable Zinc Refinery acquisition in Kabwe. Leon talks us through the highlights, explains what this means for the company and what we can expect next.
The Kabwe Project
The Kabwe Project seeks to establish a fully integrated metal recovery and refining operational footprint in Zambia. The Project combines access to large surface material with the adjacent multi-metal refining capability. The Kabwe Project resource comprises an estimated 6.4 million tonnes (3.2 million JORC compliant) of surface assets containing 356,843 tonnes of zinc, 351,386 tonnes of lead and 1.26% equivalent vanadium pentoxide. This excludes further third party sourced copper and zinc rich mined material for further refining. The adjacent Refinery will be expanded to include a copper, zinc, vanadium and lead refining circuit based on Jubilee’s extensive process development and optimisation works program.
The Kabwe Project will be implemented over three phases as outlined below. Jubilee Metals Group is fully funded to deliver this development plan.
Phase 1: Upgrade and commissioning of the copper refining circuit with a targeted capacity of 3,000 tonnes of refined copper per annum, targeting implementation during Q4 2019.
Phase 2: Implementation of both the zinc and vanadium refinery circuit with an initial targeted capacity of 8,000 tonnes per annum of zinc contained in a high grade zinc concentrate suitable for the market and 1,500 tonnes per annum of vanadium pentoxide, targeting commissioning of the zinc and vanadium refinery circuit during Q2 2020.
Phase 3: Implementation of the lead refining circuit with an initial targeted capacity of 11,000 tonnes per annum of lead contained in a high-grade concentrate during Q2 2021.
The Kabwe Refinery process flowsheet offers flexibility with two separated fully equipped electro-winning circuits able to produce either high grade copper or zinc with only minor adjustments. The Company can allocate this refining capacity either to both metals individually or a combination of the two metals depending on the prevailing market conditions to maximise returns.
Prior to taking ownership of the Refinery, Jubilee actively pursued the completion of the project design and initiating final equipment selection to enable rapid implementation of the process flowsheet.