Jubilee Metals modular copper expansion project M update

As announced on 1 November 2023, Jubilee secured its first LOM copper ore off-take agreement from an existing mining company (“Project M” short for Monkoyo). Project M seeks to emulate the success of the South African modular chrome expansion roll-out drive, to process copper containing ore, deemed as waste by current or previous operators.

The team has undertaken significant work at Project M over the past quarter, with the first sample material from the extended open pit material expected to be delivered to Sable Refinery in May 2024 as part of the development of detailed copper resource definition. Project M offers the potential to be a sustained long term supplementary copper supply for Sable refinery by early 2025 calendar year.

At completion, Project M will include the implementation of a further copper processing module of approximate 35 000 tonnes per month feed processing capacity.

The project forms part of the targeted roll-out of the copper modular units across the Zambian projects which mimics the success achieved through the modular roll out of the chrome units in South Africa.

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