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.