Jubilee Metals Group PLC (LON:JLP) and its partner BMR Group PLC (LON:BMR) have had their licence at the Kabwe project in Zambia restored, paving the way for development work to start.
Conditions attached to the licence reinstatement are that construction of the processing plant starts within 3 months, it is commissioned by 30 September and first production is achieved by end 2018.
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A lead, zinc and vanadium recovery circuit is part of the accelerated development programme.
Leon Coetzer, Jubilee’s chief executive, said the decision recognised the work already performed on the project and its readiness, while the partners were confident the conditions of the restated licence can be met.
In early trading, Jubilee Metals' shares were sharply higher at 3.02p.
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