(Alliance News) - Metals processing company Jubilee Metals Group PLC on Thursday said it has concluded copper tailings transactions in Zambia.
The transactions have secured the company the rights to an additional 115 million tonnes of copper and cobalt containing surface tailings in Zambia.
Jubilee said that the transactions are in line with its strategy to expand operations in the country and will make significant contributions to its future earnings.
Jubilee Chief Executive Leon Coetzer said: "These agreements, together with the previous rights to material already secured, have resulted in Jubilee having access to an extensive copper and cobalt containing resource, which importantly is at surface and able to generate long term quality earnings. The implementation of our Zambian copper strategy has been carefully designed and aggressively pursued by the Jubilee team in a very short amount of time. It targets to rapidly replicate at a much larger scale our success achieved in the re-processing of platinum group metals and chrome tails."
Jubille shares were up 7.6% at ZAR1.42 each in Johannesburg on Thursday, and were up 11% at 6.95 pence each in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Jubilee Metals (JLP)