Jubilee Metals Ramps Up High-Grade Copper Processing at Roan Facility
Jubilee Metals Group (LON: JLP) has begun processing high-grade copper feed material at its Roan concentrator in Zambia, marking a key milestone in its operational strategy. The facility had previously relied on low-grade waste material for copper production.
This development follows Jubilee’s recent agreement to secure an initial 200,000 tonnes of material with a copper content of approximately 1.6%—more than double the 0.7% grade of previously processed material at Roan.
Payment for this high-grade material will be made through Jubilee’s Zambian operations, along with the issuance of $2.7 million worth of new Jubilee ordinary shares at 4.20 pence per share. At the time of the announcement, the company’s stock traded at around 4.00 pence per share.
The transition to high-grade feed is part of Jubilee’s strategy to recover lost production at Roan, following months of power outages that impacted copper output.
The facility has resumed full operations under a new power supply agreement, ensuring continued production at both Roan and the Sable refinery.
Jubilee expects the higher feed grade to significantly boost copper output from Roan, which has a processing capacity of up to 45,000 tonnes per month following the successful ramp-up of operations in November 2024.
“Our years of investment to transform the Roan concentrator into a facility capable of processing both run-of-mine and waste copper material simultaneously have paid off,” said CEO Leon Coetzer. “This capability allows us to secure high-grade adjacent resources opportunistically.”
Currently, two-thirds of Roan’s capacity—approximately 30,000 tonnes per month—is allocated to high-grade material. Jubilee is also evaluating the feasibility of running the plant at full capacity with this material for an extended period exceeding three years.
Jubilee aims to replicate the success of its platinum group metals and chrome business in South Africa by leveraging in-house processing technology for its Zambian copper assets. The company’s two processing facilities, Roan and Sable, have a combined capacity of 27,000 tonnes of copper per year.
The Sable refinery processes both historical waste rock and run-of-mine oxide copper ore from the nearby Munkoyo copper mine at a rate of 8,000 tonnes per month. Acquired from Glencore in 2019, the multi-metal refinery remained unaffected by recent power disruptions.
“Our Zambian copper strategy remains strong, supported by a vast surface resource base, two operating open-pit mines, and a fully operational processing and refining network,” Coetzer stated. “We are also reviewing opportunities to monetize certain non-core, lower-grade assets.”
With high-grade processing now underway, Jubilee Metals is well-positioned to strengthen its copper production capabilities and capitalize on Zambia’s abundant copper resources.
