REG - Jubilee Metals Group - Project Roan Achieves Nameplate Capacity

Jubilee MetalsAnnouncement

05/09/2022 07:00

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RNS Number : 2397Y  Jubilee Metals Group PLC  05 September 2022

Jubilee Metals Group PLC

Registration number (4459850)

Altx share code: JBL

AIM share code: JLP

ISIN: GB0031852162

("Jubilee" or "the Company" or "the Group")

 

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Project Roan Copper Project Achieves Nameplate Capacity

Jubilee Metals Group PLC, a diversified leader in metals processing with
operations in Africa (AIM: JLP/Altx: JBL), is pleased to announce that the
newly constructed Zambian copper concentrator, Project Roan, has reached
nameplate capacity following the successful commissioning and ramp-up of the
operations. Project Roan is a core component of the Company's Zambian Southern
Copper Refining Strategy which aims to produce 12 000 tonnes of copper per
annum through the Sable Refinery.

 

 

Highlights

 

§ Southern Copper Refining project successfully completed with nameplate
throughput reached at Project Roan

§ Project Roan has been successfully ramped up to maintain its design
throughput rate of 110 tonnes per hour needed to produce the targeted copper
concentrate for refining at the Sable Refinery

§ Southern Copper Refining project targets to deliver 12 000 tonnes of copper
per annum with a total capital investment of approximately £ 40 million

§ Project Roan broke ground in June 2021 and commenced the ramp-up of
operations during June 2022

§ Targeted production of 3700 tonnes of copper to December 2022 and 10 000
tonnes of copper for the full twelve-month period ending June 2023 (4-fold
increase in copper production)

 

Leon Coetzer, CEO, commented: "We are delighted to have reached nameplate
production throughput levels at our Project Roan concentrator. This is a
defining milestone that transforms our operational footprint in Zambia.
Despite a challenging construction period marred by COVID-19 and supply-chain
interruptions, all construction activities at Project Roan were completed in
11 months which is a remarkable achievement.

 

"The Southern Copper project in Zambia is a great example of the Jubilee Way
of establishing growth, requiring an investment of approximately £ 40 million
to deliver a 12 000 tonnes per annum copper cathode production capacity within
two and a half years of entering Zambia. This investment is a fraction of the
industry norm's capitalisation requirements per unit of copper.

 

"I am extremely proud of the Jubilee team's performance and thank them for
their dedication to deliver Project Roan at scale. With the completed
hand-over by the projects team, the operational efficiencies will continue to
be optimised under the management of our operational team.  Our projects
team's focus now shifts on to the commissioning and ramp up of the cobalt
circuit as well as the much larger Northern Refining Project."

 

5 September 2022

For further information visit www.jubileemetalsgroup.com
(http://www.jubileemetalsgroup.com/)   or contact:

 

Jubilee Metals Group PLC

Leon Coetzer

Tel:  +27 (0) 11 465 1913

 

PR & IR Adviser - Tavistock

Jos Simson/ Gareth Tredway/ Adam Baynes

Tel: +44 (0) 207 920 3150

 

Nominated Adviser - SPARK Advisory Partners Limited

Andrew Emmott/ James Keeshan

Tel: +44 (0) 20 3368 3555

 

Joint Broker - Berenberg

Matthew Armitt/ Jennifer Lee/ Detlir Elezi

Tel +44 (0) 20 3207 7800

 

Joint Broker - WHIreland

Harry Ansell/ Katy Mitchell

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

 

Joint Broker - Shard Capital Partners LLP

Damon Heath/ Erik Woolgar

Tel +44 (0) 20 7186 9900

 

JSE Sponsor - Questco Corporate Advisory Proprietary Limited

Sharon Owens

Tel: +27 (11) 011 9212

 

 

 

 

 

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