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@3CB - Agreed, JLP will never be allowed to clean up Kabwe until the ZamGov/ZMERIP have agreed how to do so in a safe manner with minimal dust. I first invested in JLP based on the Kabwe story, with Tjate as the Elephant in the room. Mind you, I never thought I would be looking at JLP, as they stand now, with the potential for their Copper/Cobalt processing.
ATB
Off Topic #mieshem. You should look at Agronomic (ANIC) which is about the only way you can invest in this area. If lab grown meat is a success (and lots of knowledgeable people suggest it will be) then getting in a this stage this could be a multibagger.
I have a few £K in this on my "Bust or Bag" list.
requirement
Lab . Grown will meet( meat) the reqirments.
Nice fillet steak perhaps?
I think there is clear benefit to being a "Green Miner", my daughter is vegetarian, and was very wary of any investments. I persuaded her that leaving the money in the bank was not very green as she didnt know who the bank was lending money too.
After she looked into it, JLP is her only significant investment.
As she invested last year at 5p she now has the problem of what to do with her profits....
I don't think you need be concerned, Mammon. LC has stated on many occasions in RNSs, Interviews and presentations that Jubilee is unconditionally committed to storing waste from tailings reprocessing in an environmentally safe, zero effluent manner.
Thank you 3cardbrag. How I love that game, do you go blind a lot? More real light-hearted fun than poker I think - which gets far too serious - sorry our US friends. :-)
You clearly have a lot more local and company knowledge than me, thank you for passing it on. I would just point out that it is all very well spraying during reprocessing, but especially given the likely finer grinding involved (leading to an increase in reactive surface area), what is envisaged long-term?
As I say submerged storage is perhaps the most suitable long-term solution. I looked up average rainfall at Kabwe = 36 inches, (London averages 24 inches), which eliminates aridity as a limiting factor. Such a scenario will forestall future wind mobilisation. Personally I really wouldn't want to be invested here if such an approach has not been provisioned for.
Mammon. From my understanding it's the dust from the lead tailings which causes the most problems for Kabwe residents. It blows about all over the suburbs, schools and gardens causing massive health problems. Children are particularly affected as they play near the dumps and their bodies are more susceptible to the toxins in the lead. The other problem is illegal bucket and spade mining by locals who put themselves at great risk from the pollution and cave-ins. Previous BMR RNSs have indicated that the lead extraction was going to be highly controlled with use of water sprays to keep dust to a minimum.
I believe that the Zambian Government assumed responsibility for past pollution and as any Jubilee remediation will be done in conjunction with and closely monitored by ZEMA, there hopefully shouldn't be too much risk to Jubilee and its shareholders.
I personally feel the lead, whilst at very high percentages in the tailings, but with much lower values than copper, is more of a sprat to catch a mackerel, with copper being the main prize now that Jubilee have established a foothold in Zambia. But Jubilee need to make sure that the continuing delays to a lead start date don't upset the Zambians who have already shown a willingness to remove licences where they feel necessary.
Hi Mammon
Strongly agree with you in regards to the plight of Kabwe, JLP’s inherited obligation and the massive positive momentum that could be achieved on the resultant Green credentials. Typically being the green miner is akin to being the vegetarian at a steak restaurant when all you did was eat some of the garnish.
Hi all,
On Kabwe – this is a highly contaminated and I would venture to say polluted mining town in the Zambian copper belt. In the past a big international conglomerate operated this mine and extracted multiple fortunes. As they are prone to do when the time appeared right to them they washed their hands of the mine and left behind the most horrendous of messes. The plight of the exposed and lead poisoned children is particularly affecting.
https://www.bbc.co.uk/news/world-africa-54634511
https://www.hrw.org/report/2019/08/23/we-have-be-worried/impact-lead-contamination-childrens-rights-kabwe-zambia
So now Jubilee are involved in this hotspot. To me this represents a fantastic ‘green’ opportunity or the chance of a calamitous disaster. We are back to risk and reward again.
If some of the lead can be removed from the environment so much the better, but that is almost marginal. What the lay person does not perhaps appreciate is that other toxic elements such as arsenic, antimony, cadmium, zinc (possibly) etc. are routinely associated with lead/copper mine dumps. Moreover, no process in 100 % efficient, some lead will remain. Hence, to remediate it is not enough just to extract the lead. I might go further and say that the finer grinding associated with reprocessing might be significantly deleterious to the local inhabitants.
If however, associated with the reprocessing the newly generated waste, there is the conscious and expensive effort of placing the waste in sealed preferably submerged compounds held behind strong seismic- and flood-proof walls an incalculable human benefit will ensue. The risk is that Jubilee inherit somebody else’s problem and are left holding the baby when things go wrong. The benefit is that if done properly the environmental brownie points and associated appeal will be very extensive.
I should also mention another related environmental issue. The ongoing Global tailings production is huge. Copper yields are 1 % and falling while gold yields are mentioned in low grams per ton. Therefore in the case of copper 1 ton of reprocessed or recycled material leads to a future reduction of at least 100 tons of tailings. With the greatest respect to the Jubilee management I do not feel that they have made enough of this point. Maybe ‘green’ copper should carry a premium? Perhaps not, but in any event I think that despite being a generic ‘mining’ company Jubilee might well appeal to some of our Green Fund managers. The right thing to do from both a financial and ethical standpoint.
What do you think?