Jubilee Metals Group PLC - London-based metal processing company - Mopani Copper Mines awards the company a "significant" new slag project. Mopani and Jubilee will form a joint venture as part of this project. Jubilee will process about 13 million tonnes of historical slag, which is estimated to contain 0.7% copper and 0.27% cobalt in addition to the current slag arisings, it says.
Jubilee says the slag project forms part of a greater waste recovery initiative in Zambia. "This slag project not only offers further scale to our current project portfolio, but also high value metal content material. The project holds the potential to accelerate investment into the Mufulira area which will benefit not only the JV partners but all stakeholders," Chief Executive Leon Coetzer says.
Current London stock price: 5.83 pence, up 0.5% on Tuesday morning
12-month change: down 50%
Current Johannesburg stock price: ZAR1.37, up 3.8%
12-month change: down 40%
By Artwell Dlamini, Alliance News reporter
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Jubilee Metals (JLP)