Aim- and AltX-listed Jubilee Metals can now start implementing a fully integrated multimetal refinery, in Zambia, following its acquisition of the refinery owned by Sable Zinc.
This has been a key milestone in the company’s strategy in the country.
Jubilee on Friday announced that the sale and transfer of Sable’s entire issued share capital had been finalised. The refinery is adjacent to Jubilee’s Kabwe project.
The refinery, together with Jubilee’s Kabwe resources of more than six-million tonnes at surface, establishes a fully integrated multimetal operational footprint in Zambia.
The company intends to recommission the current copper/cobalt circuit during the fourth quarter, which will produce about 3 000 t/y of refined copper.
Thereafter, Jubilee will start building the zinc/vanadium/lead refining circuits.
The company is targeting an initial capacity of 8 000 t/y of zinc and 1 500 t/y of vanadium pentoxide from the second quarter of 2020.
The lead refining circuit is anticipated to produce 11 000 t/y in a high-grade concentrate from the second quarter of 2021.
The Kabwe refinery process flowsheet offers flexibility, with two separated fully equipped electrowinning circuits able to produce either high-grade copper or zinc, with only minor adjustments.
Jubilee can allocate this refining capacity either to both metals individually, or a combination of the two metals, depending on the prevailing market conditions, to maximise returns.
Jubilee CEO Leon Coetzer said the refinery would be the only one of its kind in Zambia and would increase the company’s access to additional surface materials for further refining.