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LUSAKA - Jubilee Metals Group PLC, a metals producer with operations in Zambia and South Africa, is in the final stages of its trials for processing high-grade copper ores at its Roan Concentrator in Zambia. The trials, which began on February 6, 2025, are critical for selecting material for a long-term supply agreement. Initial results have indicated a significant potential increase in copper production rates.
The company has been processing different types of high-grade, previously mined copper materials totaling 6 million tons, each requiring specific circuit adjustments at Roan for optimal processing. These adjustments have caused slight delays in the trial results. The final selection of source material for the supply agreement is expected to be completed within the next two weeks, with two more material compositions yet to be trialed.
In parallel, Jubilee’s Munkoyo Open-Pit mine operations are on track to reach a production target of 8,500 tons per month of high-grade run-of-mine (ROM) copper, with an additional 75,000 tons per month of lower grade ROM stockpiled. The company has also commenced trading from its Large Waste Project, which contains an estimated 260 million tons of material, with initial payments already received.
Jubilee CEO Leon Coetzer stated, "These trials have vindicated our decision to prioritize the processing of high-grade copper material. The early results have confirmed the potential for a significant and sustained improvement in copper production from Roan."
The ramp-up at the Munkoyo mining operations is expected to contribute to the company’s copper production alongside the Roan Concentrator. This announcement is based on a press release statement and contains inside information following UK Market Abuse Regulations.
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