(Alliance News) - Jubilee Metals Group PLC on Monday said its newly constructed Zambian copper concentrator Project Roan has reached nameplate capacity following the successful commissioning and ramp-up of its operations.
The Berkshire, England-based metal processing company said Project Roan is a "core" component to its Zambian southern copper refining strategy, which aims to produce 12,000 tonnes of copper per year through the sable refinery.
The project broke ground in June 2021 and the "ramp-up" of its operations began during June this year.
Jubilee said that the commissioning and ramp-up at the Project Roan has been successful, with the project now processing 110 tonnes of ore per hour.
Looking ahead, Jubliee expects production of 3,700 tonnes of copper to December and 10,000 tonnes in the twelve-month period ending June 2023. It added that this will be a four-fold increase in copper production.
Chief Executive Leon Coetzer said: "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."
Jubilee shares were down 3.5% to 12.64 pence each in London on Wednesday morning, and were down 0.4% to ZAR2.60 each in Johannesburg.
By Sophie Rose; sophierose@alliancenews.com
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Jubilee Metals (JLP)