Jubilee Metals Group is making significant strides in Zambia’s copper industry through strategic initiatives aimed at optimising its operations and expanding its asset base. The company’s recent agreement to sell 10 million tonnes of copper waste for approximately $6.75 million underscores its commitment to monetising by-products and enhancing financial performance. This transaction represents about 5% of a 260-million-tonne stockpile, providing valuable insights into the material’s processing performance and informing future operational decisions.
In addition to this sale, Jubilee Metals has secured exclusive rights to the Large Waste Project in Zambia for a reduced consideration of $18 million, down from the initial $30 million. This project offers substantial potential for expanding the company’s copper portfolio. The due diligence process, including sampling campaigns and pilot-scale trials, has yielded encouraging results, leading to the decision to sell a portion of the waste material. This move not only demonstrates the asset’s value but also allows Jubilee to confirm the technical performance of the material through large-scale trials. citeturn0search0
These strategic actions have positively influenced investor sentiment, as evidenced by a 7.7% rise in Jubilee Metals’ share price following the announcement. The company’s proactive approach to asset optimisation and expansion reflects its dedication to sustainable growth and value creation in the mining sector.
Jubilee Metals Group plc (LON:JLP) is a diversified metal recovery business with a world-class portfolio of projects in South Africa and Zambia. The Company’s expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals, chrome, lead, zinc, vanadium, copper and cobalt.
