Business
Further Copper Tailings Resource Secured in Zambia
Further Copper Tailings Resource Secured in Zambia.
About this update from Jubilee Metals Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 2828V\n Jubilee Metals Group PLC\n 06 August 2020\n \n \n \n \n Jubilee Metals Group PLC\n \n \n Registration number (4459850)\n \n \n Altx share code: JBL\n \n \n AIM share code: JLP\n \n \n ISIN: GB0031852162\n \n \n (\"Jubilee\" or \"the Company\" or \"the Group\")\n \n \n \n \n \n \n \n \n \n Dissemination of a Regulatory Announcement that contains inside information according to \n \n \n REGULATION (EU) No 596/2014 (MAR). Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.\n \n \n \n \n \n \n Further Copper Tailings Resource Secured in Zambia Increasing Short Term Copper Production and Earnings \n \n \n \n \n \n Jubilee Metals Group (\"Jubilee\" or the \"Company\"), the AIM and Altx traded metals processing company, is pleased to announce that in line with its stated strategy to expand operations in Zambia, it has signed a Joint Venture Agreement with a private Zambian company (the \"JV Agreement\") securing the rights to process 2 million tonnes copper Run-Of-Mine material containing in excess of 2% copper (the \"ROM Material\"). Under the JV Agreement, there is a further potential to increase the supply of copper ore to approximately 4 million tonnes with an additional 2.5 million tonnes of copper containing tailings available for processing (together \"the Project\" or \"Project Roan\"). The Project will target the near-term production of copper concentrate through a dedicated newly constructed copper concentrating facility (the \"Processing Facility\") for which Jubilee has completed the design for the construction at a targeted Brownfield site adjacent to the tailings (the \"Site\"). The Processing Facility will be commissioned in two phases with the first copper concentrate and revenues expected within four months.\n \n \n \n \n \n Highlights\n \n \n · \n Jubilee executes JV Agreement targeting the production of an additional 10 000 tonnes equivalent copper units per annum\n \n \n · \n The Project targets to commence production of first copper concentrate within four months\n \n \n · \n JV Agreement incorporates 2 million tonnes of in excess of 2% ROM Material with the potential to increase to 4 mi...