RE: Updates26 Jan 2023 12:42
Imagine you have spent 10 years and billions of dollars developing a mine and then the government turns against you as is now happening in South America…. Disasterous.
Jubilee have gone from nothing to an operation in Zambia which will soon be generating close to US$100m per year, becoming a major employer in the process. All in the space of less than 2 years and at a cost of in the region of US$50m.
The tailings that they choose to invest in can be sampled and analysed before investing, allowing them to custom design a flow sheet which maximises recoveries. You can’t do that with a mine.
Producing cobalt as a by product of the copper production could well prove to be hugely important in the near future, with plans to develop an EV battery manufacturing capacity in Ndola, very close to our operations… (coincidence?). I think we could see cobalt production soon become as important as copper production… all done with solid ESG credentials.