Jubilee Metals Makes Major Strides in Zambian Copper Expansion
Jubilee Metals Reports Strong Copper Growth in Zambia, Eyes 10,000t Boost in 2026 Amid Strategic Asset Expansion
Diversified metals producer Jubilee Metals has announced substantial progress across its copper operations in Zambia, marking a critical milestone in its long-term copper expansion strategy. According to CEO Leon Coetzer, all essential assets are now in place to maintain momentum and drive sustainable growth.
Jubilee’s Zambian strategy draws on the company’s extensive processing experience from its South African chrome and platinum group metals (PGM) operations, which are currently in the final stages of being sold.
Unlike the South African operations, which relied heavily on third-party feed, the Zambian platform is built on a more vertically integrated model supported by owned resources.
A Three-Pillar Copper Growth Strategy
Jubilee has established a diversified three-pillar approach to its Zambian copper operations:
This includes the Sable Refinery, the Munkoyo open-pit copper mine, and Project G, which together form the backbone of cathode copper production.
Additionally, the company has secured extensive exploration rights in the region, reinforcing its long-term production pipeline.
Third-Party Feed Processing at Roan:
The Roan Concentrator processes third-party copper ore, providing additional production capacity and flexibility.
Jubilee holds the rights to a vast tailings dump containing over 240 million tonnes of waste material, which is being processed for copper recovery.
In the second half of the 2025 financial year (ended June 30), the upgraded Roan Concentrator exceeded its July target, producing 384 tonnes of copper—well above the planned 350 tonnes for August.
Meanwhile, at the Munkoyo open-pit mine, Jubilee has commenced a drilling program in partnership with an experienced mining and exploration firm.
The first eight drill holes have been completed, with early results suggesting the potential to consolidate pits 2 to 4 into a single, larger open-pit mine.
This could significantly boost throughput, supporting a high-grade run-of-mine (RoM) feed of 6,500 to 8,500 tonnes per month at 2.5% copper.
The new pit designs also incorporate a recently discovered copper sulphide orebody beneath the existing oxide layer, offering further production upside.
For the 2026 financial year, Jubilee has issued copper production guidance of 2,300 to 5,100 tonnes. Additionally, the company is targeting capital-dependent projects with the potential to add 10,000 tonnes of annual copper output, further strengthening its growth outlook.
Coetzer emphasized Jubilee’s shift to a more stable and self-sufficient production model:
“By dedicating our Roan capacity to higher-grade third-party and reclaimed materials, while ramping up Munkoyo and Project G for expanded output at Sable, we are establishing a resilient copper production base,” he said.
“We’ve also overcome earlier energy-related challenges by securing stable power and entering higher-value material supply agreements.”
Coetzer noted that Jubilee’s evolving copper strategy closely mirrors the successful trajectory of its South African operations, but with the added advantage of owning and controlling its feedstock.
“We are uniquely positioned to process large volumes of transitional copper reefs and plan to issue updated production guidance under new supply agreements soon,” he added.
The company is also exploring a joint venture partnership for its mining assets, aiming to keep management’s focus on processing while scaling operations in a non-dilutive, capital-efficient, and sustainable way.
Following recent announcements, Jubilee confirmed that the definitive agreements for the sale of its chrome and PGM operations in South Africa are nearing finalization, aligning with its strategic focus on copper growth in Zambia.
