Jubilee Metals Group says that its South African and Zambian expansions are on track
JUBILEE Metals Group is on an exciting growth path in South Africa and Zambia after completing development work for the design of its copper tailings processing solution, CEO Leon Coetzer said yesterday.
The diversified metals processor in Africa said yesterday the upgrade and commissioning of a brownfield chrome processing facility on the western limb of the Bushveld Complex has been completed and reached targeted output.
The company provided an update of its chrome joint venture expansion project in South Africa and of its Roan Concentrator in Zambia yesterday.
Notably, it announced that advanced discussions were under way for its next partnership agreement targeting an additional 600 000 tons a year processing capacity.
The existing long-term chrome processing partnership provides potential for additional chrome processing capacity of 360 000 tons a year, targeting an additional 200 000 tons of chrome concentrate and adding 10 000 platinum group metals (PGM) ounces per annum to Inyoni’s profile.
Jubilee said it was a good time to expand the chrome operations, as chrome prices and strong market support were extending operating margins.
Some 24 500 tons of newly produced chrome product had already been traded and an additional 17 000 tons of metallurgical grade
per month of trade was on track.
An additional 60 000 tons of chrome concentrate was expected by the half year ending December 2023, and 4 000 PGM ounces.
“Our chrome production units form a vital part of the South African business’ profitability and cost competitiveness, especially at a time when chrome prices are particularly strong, and this largely offsets the weakness in the PGM basket price,” said Coetzer.
Meanwhile, the roll-out of copper expansion strategy in Zambia was ahead of schedule, with all long lead items secured for the Roan upgrade.
These included delivery of equipment and on-site assembly scheduled to commence in early September 2023 and for commissioning in October 2023.
At completion, Roan will have the capability to process a variety of Runof-Mine (ROM) and waste sources.
Jubilee has secured an additional six-year copper ROM supply at Roan.