Jubilee gains full control of the Kabwe project
Jubilee Metals has gained full control of the Kabwe project, in Zambia, by increasing its interest in the project to 87.5%.
While Jubilee has the option to acquire 100% of the Kabwe project, Aim-listed BMR retains a maximum of 12.5% of the generated earnings.
Through retaining its 29.01% shareholding in BMR, Jubilee therefore has a total effective beneficial interest of about 91.5% in the Kabwe project.
“I am delighted by the execution of the updated shareholders' and operating agreements with BMR. The agreements ensure that Jubilee takes full control of the funding requirements and execution of the Kabwe project,” Jubilee CEO Leon Coetzer said on Monday, adding that the company has been able to ensure that the success of the Kabwe project remains independent of BMR’s financial position.
The company further noted that the expertise of Jubilee’s technical and project execution teams have led to the development of an enhanced process flowsheet for the recovery of both zinc and lead at Kabwe.
The enhanced flowsheet, he explained, allows Jubilee to implement the zinc recovery circuit independently of the lead recovery circuit which provides the technical team with the opportunity to continue refining the lead circuit design without delaying the construction of the zinc circuit.
“I am confident that the team will conclude the enhanced circuit design and project financial parameters by the end of the third quarter," Coetzer said.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation