Jubilee begins to process previously mined waste rock
Roan has begun processing low grade stockpiled material from historical mining operations through its newly commissioned front-end module. The module is designed to upgrade the waste rock material more than tenfold, producing a high-grade copper concentrate in excess of 10% copper contained for further refining or market trading.
Additionally, the plant generates a lower-grade copper stream that requires further processing. The Jubilee technical team is currently evaluating various metal extraction techniques to refine this waste stream, with a preference for on-site flotation and leaching. The review includes exploring the use of glycine-based heap leaching in partnership with Draslovka, a mining processing specialist. A semi-commercial trial for flotation and on-site leaching of the low-grade copper stream is scheduled for February 2025.
The large Waste Rock Project, with an estimated 260 million tonnes of surface material, is currently undergoing its final technical review. As previously announced, Jubilee has secured the rights to the extensive waste rock stockpile, pending the successful completion of due diligence to Jubilee’s satisfaction, in partnership with International Resources Holding (IRH) from Abu Dhabi.
The due diligence of the copper waste rock material undertaken by Jubilee has included various sampling campaigns as well as laboratory and pilot scale test programs to confirm the upgradability. In parallel to the test program, Jubilee entered into agreements to accelerate delivery timelines of key long lead items.
Jubilee has reached agreement to extend the due diligence period to 6 November 2024 to accommodate the extensive test program which culminates in a full commercial trial of the large Waste Rock Material through the newly commissioned Roan front-end module. It is planned to process approximately 15 000 tonnes of the material at Roan as final confirmation of the response of the material to the proposed processing solution. Due to the initial delays in the commissioning of Roan it is expected that the due diligence period will be extended to January 2025 subject to agreement reached to ensure sufficient time to complete the commercial trial and allow the Jubilee technical and commercial team to complete the review of the results.
To date, US$4.95 million has been advanced to secure the rights to the large Waste Rock Project, as part of the overall acquisition price of US$30 million, payable quarterly over 18 months, contingent on the successful completion of the due diligence period. According to the terms of the agreement, Jubilee will forfeit the payments made thus far if it decides not to proceed with the project. The successful completion of due diligence is a critical factor in maintaining Jubilee’s partnership with IRH.
The scale of the large Waste Rock Project indicates the need for four processing modules similar to the Roan front-end module, requiring an estimated capital investment of around US$50 million subject to funding. Preliminary production estimates suggest that these modules could collectively produce approximately 2 000 tonnes of copper per month.
An accelerated construction schedule for all four modules could generate economies of scale and significant cost reductions. The project timeline for implementing all four modules depends on the sequencing of their installation, but through the establishment of strategic partnerships with the suppliers of key long lead items, modules could be completed within a 12-month period from the commencement of construction.
The figures above serve only as indicative numbers of the potential that the resource holds based on the assumptions and test work undertaken by Jubilee’s technical services department and the successful completion of the due diligence which includes the commercial trial at Roan.
