Focussed 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, with the view to taking a leading role in the processing of surface tailings by applying technical know-how and IP. A “game-changing” target of reaching 25,000 tonnes of copper units per annum in four years has been set and following some key transactions in 2020, some 300 million tonnes of copper and cobalt tailings have been secured to be upgraded and refined at both the Sable Refinery and the targeted Northern Refinery through its agreement with Mopani Copper Mines. Offering the potential for long term quality sustained earnings.
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.
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