Jubilee Metals has established a focused copper strategy in Zambia centred on processing flexibility, disciplined capital deployment and access to multiple feed sources. The company entered the sector through the acquisition of a copper refinery, creating an operational base from which it has progressively expanded its processing capacity and upstream material access.
The group’s copper operations are anchored by the Roan concentrator, which processes a blend of waste rock, tailings and run of mine material. By targeting historically overlooked surface and near surface material, Jubilee positions itself to extract value from resources that often require lower upfront mining capital. The concentrator upgrades this material into copper concentrate, forming a revenue generating core that supports further expansion.
Downstream of Roan, the Sable refinery provides integrated refining capacity. The refinery is being expanded in phases to align with anticipated increases in concentrate supply, both from Jubilee’s own operations and from third party sources. This staged development model allows the company to match capital expenditure with confirmed feedstock and market conditions, reducing balance sheet strain while retaining growth optionality.
Jubilee’s copper strategy rests on diversification of feed sources and modular processing expansion. By combining internal material, purchased ore and third party concentrate, the company aims to mitigate reliance on any single supply stream.
Jubilee Metals Group plc (LON:JLP) is a diversified and leading metals recovery business with a world-class portfolio of projects in Zambia.
