As announced on 6 August 2020, Jubilee Metals Group has secured the rights to approximately 2 million tonnes of copper run-of-mine material (ROM), with the potential of increasing the ROM to 4 million tonnes, as well as a targeted 2.5 million tonnes of copper-containing tailings.
Jubilee concluded a strategic partnership through a 50/50 joint venture to turn Project Roan into account.
Jubilee will construct, own and operate the processing facility (Roan Facility) in Zambia, while its JV partner will deliver the ROM and tailings at no cost to Project Roan. The JV partner is tasked with producing the copper concentrates, which will be sold on an arms-length basis, with Jubilee’s Sable Refinery holding a first right to such concentrate.
Jubilee may also under the JV secure and process its own third-party ROM at the Roan Facility. Project Roan is targeting the production of 10 000 tonnes of equivalent copper units per annum of copper concentrate for further refining, supporting Jubilee’s rapid copper expansion strategy to increase capacity to in excess of 25 000 tonnes of copper per annum.