The acquisition served as an entry point for Jubilee into Zambia presenting a well-placed platform from which to pursue the various base metal opportunities presented by the country, and to begin actively engaging with third party suppliers to develop strategic partnerships to grow our copper production.

Copper Strategy

Focused on replicating the PGM and chrome success seen in South Africa, Jubilee is focussing on growth in copper operations in Zambia where there is a huge supply of on-surface copper waste material and a junior mining sector with limited processing facilities.  This offers the potential for long term quality sustained earnings.

Zambia Modular Expansion

  • Innovative Modular Technology – 2,000 tonnes per annum of copper per 20,000 tonnes per month copper processing module (assuming feed of 1.5% copper grade), as depicted in the diagram for Project M
  • Copper unit cost per tonne US$5,281 in FY23
  • Estimated capital for 50,000 tonnes per month copper processing module = US$6.5 million. The estimated capital for a 20,000 tonnes per month copper processing module would be approximately US$3 million
  • Modules targeted as part of Roan upgrade with additional modules considered under current long-term RoM agreements


What is copper used for?

Copper is a strategic and complementary, highly ductile semi-precious metal with high thermal and electrical conductivity and excellent corrosion resistance, finding extensive use in construction and appliances. By far the most common application is in moving electrons, be it in electricity transmission and distribution or home and appliance wiring. Demand for copper has grown with the market moving from surplus to deficit, putting pressure on stocks and having the effect of increasing prices with analysts estimating a continuous rise in prices. This pressure is expected to increase with a greener future and a low carbon global commitment.

Our Projects

  • Sable Refinery
  • Project Roan

Sable Refinery

  • The Sable Refinery was acquired from Glencore in August 2019
  • Capacity to produce 14,000 tonnes per annum copper cathode
  • Copper production at Sable Refinery reached 2 923 tonnes for the full end of year to end-June 2023, an 29% increase on FY2022
  • 178 412 tonnes were processed from third-party material during the year at an average grade of 1.87% containing copper

Project Roan

  • The Roan sulphide circuit with a capacity of 10,000 tonnes of copper in sulphide concentrates per annum, was constructed near Ndola in Zambia.
  • In FY2024, the expansion of the front end with a 50kt copper processing modules at Roan concentrator is underway and will launch in Zambia in FY 24, providing Roan the optionality to treated oxide and sulphide waste rock. This additional 50kt copper processing modules increases the Roan operation processing capacity to 13,000 tonnes of copper in concentrates per annum.

Email Alerts

Sign up to get the latest company news and RNS communications