JUBILEE METALS: Update on Project Elephant
As announced on 18 June 2020, Jubilee has secured the rights to approximately 150 million tonnes of copper containing surface tailings, targeted to be upgraded at site and refined at its Sable Refinery in Zambia. This will be done through a joint venture with the mining rights holder.
The Company’s highly experienced technical and operational teams plan to construct a copper concentrator at the tailings resource to produce two separate concentrates for both the acid soluble copper oxides and sulphide associated copper.
The tailings recovery market is rapidly expanding as demand to consider the reduction of mine tailings global footprint is being driven by the international legislature. Jubilee is currently in a growth phase, entering into new project discussions which will increase geographic and commodity exposure.
Project Elephant alone holds the potential to produce copper concentrates in excess of the total Sable Refinery capacity of 14 000 tonnes per annum of copper cathode.
Jubilee Metals Group Plc is an industry-leading metal recovery business focussed on the retreatment and metals recovery from mine tailings, waste, slag, slurry, and other secondary materials generated from mining operations.
The Company’s expanding multi-project portfolio across South Africa and Zambia provides exposure to a broad commodity basket including Platinum Group Metals (‘PGMs’), chrome, lead, zinc, vanadium, copper and cobalt.