Jubilee implements its copper and cobalt expansion strategy
Jubilee has updated the implementation of its copper and cobalt expansion strategy to better align the targeted increased operational footprint with the in-country available power infrastructure, resulting in the potential to accelerate the roll-out of the Northern copper and cobalt strategy. The refined strategy follows a joint review by the Zambian authorities and the Jubilee project team.
The Company’s new refined strategy will allow the Zambian operations to maximise the use of available and renewed infrastructure by expanding existing operations such as Roan, which offers the potential to bring forward the delivery of its Northern Refining Strategy through a centralised operation and reduced capital outlay.
Sable Refinery holds the ability to pivot production between copper and cobalt metals which, accommodates the staged expansion of the operations while at the same time optimising profitability.
The Sable Refinery will initially maximise cobalt production in the short-term to facilitate the targeted expansion of the Roan copper operations, targeting output of 450 tonnes per month of cobalt hydroxide (125 tonnes of contained cobalt) from recycled waste alone by end May 2023.
Leon Coetzer, CEO, commented: “It has been a challenging period during which we have overcome infrastructural related challenges in both of our operating jurisdictions. Reliable power and water supply are two critical ingredients for efficient and stable operations.
Leon Coetzer, CEO, commented: “At the Sable Refinery, we have taken the decision to debottleneck and further expand the cobalt refining circuit to add to our ability to increase revenues from cobalt especially during the expansion of Roan.
The impact, therefore, of the addition of cobalt production and upgrades to the Roan operations during February, will impact our production guidance for FY2023 which we will clarify along with the release of our interim results due in March.
“We have suffered short term losses in the production of copper but, the learnings we have taken from the severe challenges we faced, and the decisive steps taken, we expect clear long-term benefits from the joint efforts. We are extremely thankful for the support of the Zambian authorities who helped keep us on track to achieve our copper and cobalt aspirations.”
