Jubilee Metals Strengthens Zambia Expansion Plans After Due Diligence Milestone
Jubilee Metals Advances $35 Million Zambia Project Sale as Legal Due Diligence Concludes
Jubilee Metals has taken a significant step forward in the planned sale of its Large Waste Project (LWP) in Zambia after successfully completing the legal due diligence phase of the transaction.
The milestone brings the company closer to finalizing a deal valued at approximately $35 million, as it continues to reshape its portfolio and focus on expanding copper production in Zambia.
According to the company, completion of the legal review is expected to trigger payment of a $2.25 million deposit in the coming days.
The transaction will now move into a new phase, with both parties entering a 45-day period dedicated to technical due diligence and the completion of final transaction documentation.
If the remaining conditions are successfully met, the purchase price will be paid over a three-year period, with the first installment expected in December.
However, the sale remains subject to the completion of technical assessments, final agreements, and other customary conditions associated with transactions of this nature.
Chief Executive Officer Leon Coetzer described the completion of legal due diligence as an important milestone that supports the company’s broader growth strategy.
Jubilee intends to use proceeds from the disposal to strengthen its balance sheet and accelerate investment in its Zambian copper operations, where it sees stronger long-term value creation opportunities.
The company plans to channel capital toward expanding its existing mining and processing footprint, including further development of the Molefe Mine.
By monetizing non-core assets, Jubilee aims to reduce risk across its project portfolio while concentrating resources on operations capable of delivering higher returns.
The transaction comes as Jubilee continues to execute its strategy of building a larger copper business in Zambia.
In addition to proceeds expected from the Large Waste Project disposal, the company is also anticipating further payments from the sale of its South African operations, providing additional funding for future growth initiatives.
