REG - Jubilee Metals Group - Additional power supply secured for Roan re-start

Jubilee MetalsAnnouncement

21/01/2025 07:00

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RNS Number : 0283U  Jubilee Metals Group PLC  21 January 2025

Jubilee Metals Group Plc

Registration number (4459850)

AIM share code: JLP

Altx share code: JBL

ISIN: GB0031852162

('Jubilee' or 'Company' or 'Group')

 

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Additional power supply secured for Roan to re-start

 

Jubilee, a diversified metals producer with operations in South Africa and
Zambia, is pleased to announce that regulatory approval has been granted for
its new power supply agreement in Zambia,  with power delivery commencing on
20 January 2025. This important milestone enables the Company to restart the
Roan concentrator and ensures a stable power supply going forward.

The additional power supply agreement, executed with a new broad based power
provider, secures access to a distributed power base from multiple sources of
generation, minimising the reliance on a single supply source and mitigates
risks associated with localised power network distribution limitations. The
power supply has been delivered at a cost comparable to the Company's existing
power agreement, offering both economic and operational stability.

Highlights:

§ Power delivery commenced on 20 January 2025 following approval by the
regulator under the new power agreement.

§ The additional power supply agreement is now fully operational and capable
of meeting the complete power demands of both the Roan concentrator and the
Sable processing plant, if required.

§ The power solution leverages a diversified network of power generation
sources to ensure reliability and continuity of operations.

§ The company is actively preparing for the restart of the Roan concentrator,
with copper production rates anticipated to return to target levels as
operations ramp up.

Statement from Leon Coetzer, Jubilee CEO:

"The Jubilee team demonstrated great resilience in overcoming the recent power
challenges at its Zambian operations. The commencement of the additional power
supply successfully addresses current power supply limitations that affected
Roan's ability to operate historically. We now turn our attention to preparing
the plant for re-start and remain focused on delivering reliable production
and operational resilience."

 

21 January 2025

 

For further information visit www.jubileemetalsgroup.com
(http://www.jubileemetalsgroup.com) , follow Jubilee on Twitter
(@Jubilee_Metals) or contact:

Jubilee Metals Group PLC

Leon Coetzer (CEO) / Jonathan Morley-Kirk (FD)

Tel: +27 (0) 11 465 1913  / Tel: +44 (0) 7797 775546

Nominated Adviser - SPARK Advisory Partners Limited

Andrew Emmott/James Keeshan

Tel: +44 (0) 20 3368 3555

PR & IR Adviser - Tavistock

Jos Simson/ Gareth Tredway

Tel: +44 (0) 207 920 3150

Joint Broker - RBC Capital Markets

Farid Dadashev/Jamil Miah

Tel +44 (0) 20 7653 4000

Joint Broker - Zeus Capital

Harry Ansell/Katy Mitchell

Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618

JSE Sponsor - Questco Corporate Advisory Proprietary Limited

Alison McLaren

Tel: +27 63 482 3802

 

About Jubilee Metals Group Plc

 

Jubilee is a low-cost, diversified producer, specialising in the recovery and
processing of metals from previously overlooked resources, such as unprocessed
historical waste rock, run-of-mine materials and tailings in Zambia and South
Africa. The Company's low-capex, modular processing facilities are deployed
close to these various types of material, producing high grade concentrates
for sale or further refining to finished metal at the Company's downstream
facilities. Production currently consists of copper, chrome, and platinum
group metals (PGMs). The modular processing facilities offer a platform for
growth and the rapid expansion of Jubilee's operational footprint in Zambia
and South Africa. Jubilee's success is derived from operational and technical
excellence, an experienced management team and a pioneering Technical
Development Centre.

 

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