Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF) said it has successfully completed the water infrastructure upgrade at its Roan copper concentrator project.
Roan had faced continued water supply interruptions that severely hampered its ability to operate at design throughput levels. The installation of the new dedicated water infrastructure and upgraded power and feed supply infrastructure have been completed successfully with the restart of operations back to nameplate capacity.
The company said it has also continued to make advances in the production of cobalt and copper from waste at its Sable Refinery in Zambia.
Jubilee has focused on a direct leaching approach at Sable which by-passes the need for traditional power-intensive smelting of copper sulphide concentrates.
These trials have been extremely effective and not only allow for significantly lower operating costs, but also for Sable to produce copper from mixed materials such as copper sulphide and copper oxide ores. Jubilee believes that this new approach to extraction offers significant growth opportunities in the country.
As a result, the company is examining new run-of-mine material agreements with third-party producers which offer the potential to further enhance growth for its operations at the Sable Refinery.
Jubilee is also targeting the initial production of 50 tonnes of contained cobalt metal. Cobalt production from waste remains in-line with management's expectations.
Solving the technical challenges related to cobalt recovery places the company in a unique opportunity to pursue potential growth opportunities in relation to historical wastes, including also from mixed copper-cobalt materials.
The company is currently considering upscaling the production of cobalt through the potential acquisition of refining infrastructures to expand its cobalt footprint in Zambia.
What is more, the additional cobalt revenue offers the company further opportunities to secure metal-backed funding in support of future growth.
Jubilee also said it has appointed Pedja Kovacevic, currently chief strategy officer, to the role of group chief financial officer.