Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF) is to set up a separate international division to roll out its metals processing IP on a global scale.
The group has been hugely successful with tailings projects in South Africa and more recently Zambia, with revenues jumping to £133mln and underlying profits to £52mln, and said it now wants to expand into new areas of operation.
Jubilee said it believes its process to treat ore from multiple sources through a single, centralised processing unit while at the same time cleaning up historical environmental mine tailings liabilities can be applied globally to create more value and improve the environment.
“The international opportunities available to Jubilee are vast,” it said in a statement, adding it intends “to create and allocate significant resource during 2022 to the global roll-out strategy”.
The new standalone business unit, which will comprise a number of key management team members, will have a remit to identify and procure the best opportunities in the global arena.
“This new business unit will combine and integrate the technical, commercial and country risks and commodity fundamentals and will develop an overall five-year strategy for growth," Jubilee said.
It said it is already receiving approaches to work on new projects across different continents, adding it will maintain centralised control over finance and business development of the new arm with a decentralised approach to country management.
Leon Coetzer, chief executive, said: "Jubilee has built a leading position in the metals processing world and it is with great excitement that we launch our global growth strategy.
"We have made significant progress over recent months at both our South African and Zambian operations, as well as outside the African continent, with the collaboration with Cyprus-based Caerus Mineral Resources, and now feels the opportune moment to formally implement a global roll-out strategy.
"To do this we will look to expand the team we have in place, bringing together an executive and non-executive team that will really drive the international strategy with their experience and contacts."
Colin Bird, chairman, added: "Jubilee is now well-positioned to expand internationally, and to do so must further tailor the structure and knowledge base of the business.”
He added that he will also step down in six months with his focus in future to be companies at an earlier stage of development.
“It is critical that we have individuals in place with the specific capability, values, and experience to move the company forward.
“ I personally recognise in reaching this point that it is appropriate that I move on to allow a new chairperson to steer the company in the next phase of its evolution.“