Jubilee’s copper refining strategy is to produce 12 000 tpa of copper
The first phase of Jubilee Metals’ copper strategy in Zambia includes the implementation of its Southern Copper Refining Strategy which targets to produce up to 12 000 tonnes of copper units per annum including a cobalt by-product from certain cobalt containing feed streams.
The strategy integrates the upgraded Sable Refinery with Project Roan, a new copper concentrator processing both ROM copper ore as well as tailings to produce copper concentrates for refining at Sable (10 000 tonnes per annum), which complements the existing supply of third-party feed to Sable Refinery (2 000 tonnes per annum). The integrated Southern Copper Refining Strategy’s capital allocation was c. £ 19 million (ZAR 378 million).
Jubilee’s project execution team broke ground for the construction of the new copper concentrator, Project Roan, in June 2021 and, despite the challenges caused by the COVID 19 pandemic and its effect on supply chains, the team was able to commence testing of certain equipment within seven months and completed all construction activity within 11 months, a remarkable achievement. Commissioning activities have been further frustrated with the lack of availability of certain electronic equipment, largely due to increased supply chain pressures out of Europe. Through innovative engineering by the team, these have been overcome and commissioning activities remain on track to commence ramp-up of the plant during May 2022. Project Roan is expected to complete the ramp-up of the operations, which targets 830 tonnes of copper per month, during July 2022.
In addition to the copper refining capacity at Sable, Jubilee has approved the implementation of a cobalt refining circuit at Sable able to produce up to 1 200 tonnes of cobalt per annum. The new cobalt circuit is expected to commence commissioning during June 2022. At current prices of cobalt of c. US$ 81 000 per tonne of cobalt, this exciting project holds the potential to add significant revenues to the Southern Copper Refining Strategy.
Crucially, and in line with Jubilee’s goals to promote sustained, inclusive economic growth, the Southern Copper Refining Strategy has resulted in significant job creation, with total jobs filled in Zambia reaching near 800 during the last 12 months. Jubilee has prioritised the sourcing of skills and services from local communities and have, in many instances, partnered with local firms to assist in their growth and development, which also offer a sustained service to our projects.
