Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF)’s newly constructed Zambian copper concentrator, Project Roan, has reached nameplate capacity.
The throughput rate is now being maintained at 110 tonnes per hour.
Project Roan is a core component of the company's Zambian southern copper refining strategy which aims to produce 12,000 tonnes of copper per annum through the Sable Refinery.
Project Roan broke ground in June 2021 and commenced the ramp-up of operations during June 2022.
"We are delighted to have reached nameplate production throughput levels at our Project Roan concentrator,” said Leon Coetzer, chief executive of Jubilee.
“This is a defining milestone that transforms our operational footprint in Zambia. Despite a challenging construction period marred by COVID-19 and supply-chain interruptions, all construction activities at Project Roan were completed in 11 months which is a remarkable achievement.”
Jubilee has invested approximately £40mln to deliver its 12,000 tonnes per annum copper cathode production capacity. This investment is a fraction of the industry norm's capitalisation requirements per unit of copper.