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Jubilee Metals and BMR get Kabwe licence reinstated

A condition of the licence is for production to start by end 2018
Kabwe mine
Kabwe has to be up and running by end of the 2018

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.

READ: Jubilee Metals feels the benefit of the ramp-up at Hernic project

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.

 -- Adds share price --

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