Name of the Project
Waste Rock Project.

Location
Zambia.

Project Owner/s
A joint venture (JV) comprising Jubilee Metals Group (70%) and International Resources Holding, or IRH (30%).

Jubilee and IRH entered into a binding framework and JV agreement in December 2023 under which terms IRH will provide the capital for the implementation of the project with Jubilee appointed to implement and operate the project, subject to due diligence and finalisation of definitive agreements.

Project Description
The project is targeting the processing of more than 260-million tonnes of copper-containing surface material. 

The grade of copper in the resource varies depending on the origin of waste rock material, with Jubilee's internally developed modular copper units confirming the capability of successfully upgrading the material to produce copper concentrates with more than 7% copper for further refining.

The project will initially implement four modular processing plants holding a combined processing capacity of 2.4-million tonnes a year capable of producing more than 20 000 t/y of copper in concentrates.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
None stated.

Capital Expenditure
Initial capital is estimated at $50-million.

Planned Start/End Date
Production is targeted for the second quarter of 2024.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Jubilee Metals Group, tel +27 11 465 1913 or email info@jubileemetalsgroup.com.