Jubilee Updates on its Projects in Zambia and South Africa

Jubilee’s Integrated Copper Strategy is enabled by its proven ability to extract value from materials often regarded by the industry as either waste or too complex to extract economically through traditional methods.

Zambia

Targeted copper resources are classed into three groups namely:

• Medium Open-Pit Mining Operations – Acquiring open-pit resources using Jubilee’s experienced management team and refinery for processing.
  • Previously Mined Material – Processing low-grade material discarded by other mining operations, including waste rock surrounding our processing facilities.
  • Previously Processed Material – Processing historically processed material such as tailings and partially processed materials, with ongoing projects with Zambia major miners’ material at Roan and Sable while also assessing the feasibility of unlocking value to the rights over 300 million tonnes of tailings.

The Company’s Zambian copper processing operational footprint now encompasses the Roan Front-End module with its mill and flotation circuit, collectively referred to as the Roan Concentrator, and the Sable Refinery, which is currently being upgraded for a combined in-country copper capacity in excess of 25 000 tonnes per annum.

Jubilee’s South Africa projects update

The Jubilee South African team together with resource partners are progressing with the construction of Thutse’s chrome module. This initiative is part of the continued targeted growth in chrome concentrate production towards the 2Mt per annum goal. Construction of the new chrome module is progressing well and is expected to be completed during Q3 CY2024. Jubilee has significantly expanded its chrome operational capacity to process chrome ROM materials in partnership with the resource holders of chrome mining rights under an agreed earnings share model which offers Jubilee greater exposure to the chrome market.