REG - Jubilee Metals Group - Roan Concentrator Update

Jubilee MetalsAnnouncement

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RNS Number : 9186G  Jubilee Metals Group PLC  04 June 2026

Jubilee Metals Group PLC

Registration number: 4459850

AIM share code: JLP

Altx share code: JBL

ISIN: GB0031852162

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

 

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Roan Concentrator Update

 

Jubilee, the integrated copper producer and resource developer in Zambia, is
pleased to provide an operational update on its Roan concentrator (Roan)
operations, following the successful completion of the scheduled annual
maintenance shutdown and the resumption of commissioning and ramp-up
activities of the fine copper concentrate dewatering circuit.

 

Highlights

 

-   Roan annual maintenance shutdown completed during May 2026, with
operations successfully resumed at full capacity targeting run-of-mine
throughput of 30 000tpm

-   New fine copper concentrate dewatering facility commissioning completed
with fine tuning of performance measures underway to achieve stable continuous
operations

-      Maintenance period utilised to upgrade the copper oxide flotation
circuit to target further improved copper recoveries and enhance operating
efficiencies, partly offsetting rising fuel and chemical costs

 

Statement from Leon Coetzer, Jubilee CEO:

 

"The successful progression of the Roan dewatering circuit through
commissioning and ramp-up marks another important milestone in the expansion
of our Zambia copper operations. The ability to process both newly generated
fine concentrate material together with the historical stockpile provides
increased operational flexibility and supports the continued scaling of our
integrated copper strategy.

 

While May 2026 production was impacted by the planned annual maintenance
shutdown at Roan, operational performance has returned to full capacity
targeting a processing run rate of 30 000tpm of ROM with increased copper
oxide recovery rates due to the expanded flotation circuit. We expect June
2026 performance to provide a clearer indication of sustainable operating
capacity and recovery efficiencies with the addition of the fines concentrate
from Roan now being processed at Sable. As previously noted, the monthly fines
concentrate production contains an approximate 140t of copper previously
stockpiled at Roan."

Operational Update

Roan plays a key role in the Company's integrated copper production strategy,
processing third-party run-of-mine copper ore (ROM) into copper concentrates
for further refining at the Sable refinery, while also producing high-grade
copper sulphide concentrate for direct sale into the market. The Roan circuit
has been upgraded over the past three years to accommodate variances in
quality and consistency of third-party ROM to offer a unique solution for the
recovery of copper from complex ROM sources. The latest addition to the Roan
operations is the expanded copper concentrate dewatering circuit, designed to
accelerate the drying and processing of fine copper concentrate material. This
circuit was commissioned prior to the commencement of the annual maintenance
period to use the opportunity to address final adjustments to the new
dewatering circuit. The circuit is expected to operate at full capacity
following the restart of the Roan operations.

 

The fines concentrate stream accounts for approximately 25.5% of the contained
copper within the total ROM feed to Roan. The new concentrate dewatering
circuit has demonstrated sufficient operating capacity at throughput rates
above current fines concentrate production levels. Optimisation work is
focused on refining the operating parameters required to maintain stable
continuous operation of the circuit under varying feed density conditions.
Roan also currently holds significant stocks of fine concentrate material that
has naturally dried during the current dry weather period, allowing transport
to Sable to supplement any temporary interruptions in dried fine concentrate
production.

The annual maintenance period for the Roan operations has successfully
completed. Main activities focussed on the ROM feed circuit and maintenance of
the internal pumping mechanisms of the flotation units as well as final
modifications to the new dewatering circuit for the fines concentrate.

In addition, the company utilised the scheduled down time to implement key
interventions to counter the sharp rise in global fuel and acid prices. Key
interventions included the expansion of the copper oxide recovery circuit to
further improve copper efficiencies by a targeted 5% to partly offset the near
80% increase in local fuel prices which directly impacts the transport cost
associated with ROM delivered to Roan and copper oxide concentrate transported
to the Sable refinery. Acid consumption and transport costs currently account
for approximately 20% and 16% of monthly expenditure, respectively.

Roan has recommenced operations following the maintenance period and is
operating at full capacity targeting 30 000tpm of ROM. The success of the
interventions to further improve copper efficiencies will be known over the
coming week as Roan's in circuit inventory is rebuilt at stable operations.
Roan holds the option to further increase throughput with the inclusion of the
front-end DMS circuit which will be considered during June 2026.

The Company expects to provide a further update on copper production guidance
once steady-state operational performance has been demonstrated consistently
across the integrated Roan and Sable processing circuits.

 

 

4 June 2026

 

For further information 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 - Zeus Capital

Harry Ansell/Katy Mitchell

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

 

Joint Broker - Shard Capital Partners LLP

Erik Woolgar/Gareth Burchell

Tel +44 (0) 207 1869900

 

JSE Sponsor - Questco Corporate Advisory Proprietary Limited

Alison McLaren

Tel: +27 63 482 3802

 

About Jubilee Metals Group

 

Jubilee Metals, listed on AIM and the Altx of the JSE, is a copper producer
focused on building a world-class integrated copper business in Zambia. The
Company aims to reach 25 000 tonnes per annum of copper production by
integrating exploration, mining, concentrating and refining through its
three-pillar strategy, combining the Roan concentrator, the Sable refinery and
regional mining assets and the Large Waste Rock Project. Led by an experienced
team, Jubilee applies innovative technologies to transform previously
underutilised materials into value while supporting circular resource use and
strong environmental stewardship.

 

For further information, please visit www.jubileemetalsgroup.com
(http://www.jubileemetalsgroup.com) and follow Jubilee on X at @Jubilee_Metals

 

 

 

 

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