Jubilee Metals invests in a Waste Rock Dump in Zambia

Jubilee, a diversified and leading metals recovery business with a world-class portfolio of projects in South Africa and Zambia, has secured one of the largest copper waste rock assets on surface in Zambia and has formed a strategic partnership with Abu Dhabi based International Resources Holding (“IRH”). IRH is affiliated to the Abu Dhabi conglomerate, International Holding Company PJSC (“IHC”), the most valuable listed holding company in the United Arab Emirates, and the second-most valuable in the Gulf Cooperation Council region.

Leon Coetzer, CEO says: “The Transaction marks a significant milestone on our journey in Zambia, catapulting our copper expansion in the region. The Waste Rock Project, anchored by this substantial resource, will fast-track the rollout of our modular copper processing units in the country with the potential to far exceed our goal of reaching 25, 000 tonnes of copper per annum.

“The binding funding term sheet that we have executed, affords Jubilee the opportunity to aggressively pursue its copper growth strategy in partnership with a prestigious group such as the IRH.

“This partnership combines Jubilee’s unique technical and operational experience with the strategic in country copper focus and financial support of the IRH. The strategic significance of this partnership is further highlighted by the recently announced selection of IRH as the preferred strategic equity partner for Zambia’s Mopani Copper Mines asset, which owns the Mufulira Slag Dump Project recently awarded to Jubilee.

“Jubilee and IRH share similar values in their commitment to sustainable investment through broad based community involvement and prioritising local partnerships. I look forward to working with IRH as our partner in bringing this exciting project to full fruition.”