JOHANNESBURG (miningweekly.com) – The small-scale mining licence for the Kabwe lead/zinc/vanadium project, in Zambia, has been reinstated with immediate effect.
This paves the way for AltX- and Aim-listed Jubilee Metals Group, in partnership with Aim-listed BMR Group, to begin with the joint execution of the project.
Jubilee in October 2017 entered into an agreement with BMR to jointly recover zinc, lead and vanadium at the Kabwe project. Jubilee has since increased its stake in Kabwe to 57.41%.
However, BMR announced in February that it had been issued with a rights termination notice for Kabwe.
Jubilee and BMR, subsequently, appealed the termination notice.
"We welcome this decision, which recognises the work already performed on the project and the advanced state of the project's execution readiness,” Jubilee CEO Leon Coetzer said in a statement on Thursday.
Under the conditions of the reinstatement, plant construction must start within three months, with commissioning expected to start by September 30.
First production is scheduled to occur before December 30.