Metal recovery business Jubilee Metals said it had secured the rights to approximately 150m tonnes of copper containing surface tailings targeted to be refined at its Sable refinery in Zambia.
 
The company planned to construct a copper concentrator at the tailings resource, which can supply both concentrate to the Sable refinery while selling excess concentrate into the market. 
 
The project could potentially 'more than double Jubilee's current earnings profile,' the company said.
 
Sable refinery's ability was confirmed to produce A-grade copper cathode from tails with an operating margin in excess of 35% at current prices.
 
The project was the first of what Jubilee hoped would be a series of targeted copper tailings resources, making a substantial contribution towards the company's strategy to achieve in excess of 25 000 tonnes per annum of copper production to deliver 'sustainable quality earnings,' it added. 


At 9:17am: (LON:JLP) Jubilee Platinum PLC share price was +0.23p at 3.88p