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Project Roan Copper Project Achieves Nameplate Capacity

Published: 2022-09-05 09:00:33 ET
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 Jubilee Metals Group Plc
 Registration number (4459850)
 Altx share code: JBL
 AIM share code: JLP
 ISIN: GB0031852162
 ("Jubilee" or the "Company” or the “Group”)


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Project Roan Copper Project Achieves Nameplate Capacity

Jubilee Metals Group PLC, a diversified leader in metals processing with operations in Africa (AIM:
JLP/Altx: JBL), is pleased to announce that the newly constructed Zambian copper concentrator, Project
Roan, has reached nameplate capacity following the successful commissioning and ramp-up of the
operations. 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.


Highlights

    ▪   Southern Copper Refining project successfully completed with nameplate throughput reached
        at Project Roan
    ▪   Project Roan has been successfully ramped up to maintain its design throughput rate of 110
        tonnes per hour needed to produce the targeted copper concentrate for refining at the Sable
        Refinery
    ▪   Southern Copper Refining project targets to deliver 12 000 tonnes of copper per annum with a
        total capital investment of approximately £ 40 million
    ▪   Project Roan broke ground in June 2021 and commenced the ramp-up of operations during
        June 2022
    ▪   Targeted production of 3700 tonnes of copper to December 2022 and 10 000 tonnes of copper
        for the full twelve-month period ending June 2023 (4-fold increase in copper production)

Leon Coetzer, CEO, commented: “We are delighted to have reached nameplate production throughput
levels at our Project Roan concentrator. 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.

“The Southern Copper project in Zambia is a great example of the Jubilee Way of establishing growth,
requiring an investment of approximately £ 40 million to deliver a 12 000 tonnes per annum copper
cathode production capacity within two and a half years of entering Zambia. This investment is a fraction
of the industry norm's capitalisation requirements per unit of copper.

“I am extremely proud of the Jubilee team’s performance and thank them for their dedication to deliver
Project Roan at scale. With the completed hand-over by the projects team, the operational efficiencies
will continue to be optimised under the management of our operational team. Our projects team’s focus
now shifts on to the commissioning and ramp up of the cobalt circuit as well as the much larger Northern
Refining Project.”
5 September 2022

For further information visit www.jubileemetalsgroup.com or contact:


Jubilee Metals Group PLC
Leon Coetzer
Tel: +27 (0) 11 465 1913


PR & IR Adviser – Tavistock
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Tel: +44 (0) 207 920 3150


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Andrew Emmott/ James Keeshan
Tel: +44 (0) 20 3368 3555


Joint Broker - Berenberg
Matthew Armitt/ Jennifer Lee/ Detlir Elezi
Tel +44 (0) 20 3207 7800


Joint Broker – WHIreland
Harry Ansell/ Katy Mitchell
Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618


Joint Broker – Shard Capital Partners LLP
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Tel +44 (0) 20 7186 9900

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