Jubilee Metals establishes itself as a comprehensive copper producer

Zambia – Jubilee, a diversified metals producer with operations in South Africa and Zambia, has provided an update on its copper portfolio in Zambia and the implementation of its integrated production strategy.

The Company continues to establish itself as a comprehensive copper producer, encompassing exploration, mining, concentrating, and cathode refining capabilities.

Jubilee’s copper strategy has leveraged experiences and expertise from its South African processing business. Whilst the Company’s South African operations are reliant on third party feed supply, Jubilee has acquired extensive copper resources in Zambia and developed a three-pillar diversified platform on the back of its growing presence in Zambia, with significant growth potential that includes:

    1. Integrated mine-to-metals business: Jubilee’s Sable refinery (Sable) together with its nearby Munkoyo open-pit copper mine (Munkoyo) and Project G. In addition, Jubilee has secured extensive further exploration rights.

• Munkoyo and Project G are being developed to be the anchor source of copper material for cathode production at Sable.
• Further large-scale exploration properties secured to expand Jubilee’s copper resource base.
• Munkoyo is a series of nine open-pits. Resource drilling is underway to establish the potential of combining these pits into one large open-pit operation offering greater flexibility and scale.

    2. Processing of third-party copper feedstock: Jubilee’s Roan concentrator (Roan).

          •   The upgraded Roan is fully operational reaching 384 tonnes of copper units for the month of July 2025 alone, proving the sustainability of the new upgraded processing solution.

          •   Roan concentrator produces copper concentrate from non-traditional feedstocks. Copper sulphide concentrates are being sold into the market and copper oxide concentrates are refined at Sable.

          •   Dedicated copper leaching circuit targeted to enhance copper margins and recoveries and avoid reliance on the Sable’s leaching and refining capacity.

    3. Processing of Jubilee acquired surface stockpiles and tailings dumps: Jubilee’s rights to the Large Waste Tailings dump which contains in excess of 240Mt is the priority asset.

• Completed a review of total surface stock portfolio to rank vast surface resource portfolio based on potential returns offered and ease of implementation.
• Monetisation programme underway to sell lowest ranking non-core tailings assets with approximately US$18 million deal value already transacted over the past six months.