Name of the Project
Waste rock project.

Location
Zambia.

Project Owner/s
A joint venture (JV) comprising metals recovery company Jubilee Metals Group (70%) and metals and mineral assets manager International Resources Holding, or IRH (30%).

Jubilee and IRH entered into a binding framework and joint venture agreement in December 2023 under which terms IRH will provide the capital for the implementation of the project, with Jubilee appointed to implement and operate the project, subject to due diligence and the finalisation of definitive agreements. 
 
Project Description
The project is targeting the processing of more than 260-million tonnes of copper-containing surface material. The grade of copper in the resource varies depending on the origin of waste-rock material, with Jubilee's in-house developed modular copper units confirming the capability of successfully upgrading the material to produce copper concentrates, with more than 7% copper for further refining.

The project will initially implement four modular processing plants with a combined processing capacity of 2.4-million tonnes a year and capable of producing more than 20 000 t/y of copper in concentrates.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
None stated.

Capital Expenditure
Initial capital is estimated at $50-million.

Planned Start/End Date
Production is targeted for the second quarter of 2024.

Latest Developments
Jubilee reported in February 2025 that it was concluding the final details of the due diligence on the project, with the expected conclusion of the transaction in March 2025, as per the terms of the agreement. 

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Jubilee Metals Group, tel +27 11 465 1913 or email info@jubileemetalsgroup.com.