# Jubilee Metals Group PLC Completes acquisition of Sable Zinc Kabwe refinery

- Link: https://www.directorstalkinterviews.com/jubilee-metals-group-plc-completes-acquisition-of-sable-zinc-kabwe-refinery/412787569
- Published: 2019-07-11T07:20:53+01:00
- Author: Giles Arbor

**[Jubilee Metals Group](https://www.directorstalkinterviews.com/company/jubilee-metals-group-plc/jlp.l)
plc** ([LON: JLP](https://www.directorstalkinterviews.com/company/jubilee-metals-group-plc/jlp.l)),
the AIM and AltX traded metals processing company, has today provided an update 
on its various projects in South Africa and Zambia, including confirmation of completion
of the acquisition of the Sable Zinc Kabwe refinery in Zambia.

**Highlights**

· All conditions precedent for the acquisition of the Sable Zinc Kabwe refinery 
have been fulfilled with final competition commissioning approval received for the
transaction from the Zambian Competition and Consumer Protection Commission

· Circuit upgrades ready to commence integration with the Sable Zinc Kabwe refinery
to process lead, zinc and vanadium

· Commissioning of Eland Platinum’s recovery plant is progressing well, reaching
flow stability on the floatation circuit with the grinding circuit targeted to be
introduced into the circuit by mid-July 2019

· Production of the first saleable PGM* concentrate at the Eland Plant expected 
during August 2019

· DCM fine chrome project continues to increase throughput achieving production 
levels of 5,000 tonnes of on spec chrome concentrate for June 2019

 * 6 Element Platinum Group Metals including platinum, palladium, rhodium, ruthenium,
   osmium and gold

**Leon Coetzer, Jubilee Metals Group plc Chief Executive Officer, says: **

> “Jubilee continues to demonstrate progress with the implementation of its strategy
> to diversify earnings through both widening our existing metals exposure with 
> the implementation of additional projects as well as expanding our geographic 
> footprint with our Kabwe project in Zambia.
> “I am delighted that we have successfully achieved all conditions precedent for
> the implementation of the Sable Zinc Kabwe acquisition with the final approval
> from the ZCCPC being ratified and completion formalised. With the design process
> near finalised, this allows Jubilee to commence with the circuit upgrade and expansion
> of the Sable Zinc Kabwe refinery for the processing of the Kabwe tailings to produce
> zinc, vanadium and lead. The first phase of the project targets the production
> of Vanadium Pentoxide (V2O5) and a zinc concentrate with phase two bringing the
> zinc metal refining step and lead concentrate online.
> “The PlatCro PGM project, which has the potential to add 30,000 ounces per annum
> of PGM production to our existing 30,000 ounces, has reached its first phase commissioning
> targets achieving stable flow rates through the Eland PGM Plant. The next commissioning
> target is to bring online the grinding circuit set for mid-July 2019. We expect
> to achieve saleable PGM concentrates during August 2019.
> “Our ground-breaking DCM Fine Chrome project continues to deliver on expectation
> producing in excess of 5,000 tonnes of chrome concentrate during the month of 
> June 2019. With this success, we now target to integrate the fine chrome solution
> into our other operations. “

**Kabwe zinc, vanadium and lead project – Zambia**

As previously announced on 5 June 2019, the completion of the acquisition of Sable
Zinc Kabwe refinery in Zambia from [Glencore PLC](https://www.directorstalkinterviews.com/ftse-company/glencore-plc/glen.l)(
[LON: GLEN](https://www.directorstalkinterviews.com/ftse-company/glencore-plc/glen.l)),
was conditional upon the fulfilment of certain conditions precedent as contained
in the share purchase agreement, of which approval for ratification from the ZCCPC
remained the only outstanding CP.

Jubilee is pleased to announce that the ZCCPC has granted final authorisation for
the Acquisition with both Jubilee and Glencore acknowledging that all CPs to the
Acquisition have been satisfied. The final administrative process for the Sable 
Zinc Kabwe refinery handover and share transfer has commenced with the parties agreeing
to target completion by the end of July 2019.

Having already progressed the project with the finalisation of the detail process
design, Jubilee’s engineers are ready to commence the process upgrade to integrate
the Kabwe Tailings project. The project targets to integrate the process over two
phases with the first phase targeting the production of vanadium pentoxide (V2O5)
and an intermediate saleable zinc concentrate, while phase two is targeting production
of refined zinc and a lead concentrate. Phase one implementation is expected to 
deliver its first production within four months of taking effective control of the
Sable Zinc refinery.

During the integration of the new process for phase one of the project, Jubilee 
intends to commence production of copper from the Sable Zinc Kabwe refinery utilising
the existing refinery infrastructure. This affords Jubilee the opportunity to maintain
both the sulfuric acid plant as well as the copper refinery circuit in production
while integrating the new circuit required for the vanadium and zinc refining.

**PlatCro PGM project – (South Africa)**

The PlatCro PGM project has achieved its first phase commissioning targets by reaching
stable flow rates through the Eland PGM Plant. It is expected that that the grinding
circuit will be brought online by mid-July 2019 with saleable PGM concentrates achieved
during August 2019.

The PlatCro PGM project holds the potential to add a further 30,000 ounces per annum
of PGM production, which doubles Jubilee’s current 30,000 ounces per annum of PGM
capacity.

**DCM operation – chrome (South Africa)**

Jubilee’s ground breaking DCM fine chrome recovery plant, constructed during Q4 
2018, has continued to successfully increase its production in-line with expectations
achieving the production of 5,000 tonnes of chrome concentrate during the month 
of June 2019. Jubilee intends to integrate the fine chrome recovery process into
its remaining chrome operations. The fine chrome recovery circuit targeted 25,000
tonnes of chrome processing per month, and already achieved close on 25,000 tonnes
for the month of June 2019.

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