Jubilee Metals Group plc (LON:JLP), a diversified metals producer with operations in South Africa and Zambia, has published its unaudited operational and project update for the half year ended 31 December 2024 (H1 FY2025).
Highlights
Zambia
§ Lost Time Frequency Injury Rate (LTFIR) of 1.00 (H1 FY2025: 0.61).
§ Copper units produced reached 1 454 tonnes (H1 FY2024: 1 683 tonnes) below the revised half year production target of 1 800 tonnes mainly due to the impact of power constraints.
§ Run-of-Mine (ROM) and in process stock increased sharply as a result, reaching approximately 1.21 million tonnes containing an estimated 8 466 tonnes of copper units for future processing.
§ Additional power agreement executed with a new broad based power provider to supplement the existing power supply agreement, specifically aimed at achieving steady power supply at Roan. The agreement:
o Secures access to a distributed power base from multiple sources of power generation to avoid dependency on a single supply source and localised power network distribution limitations;
o Is expected to commence with power supply within 7 business days pending regulatory approval; and
o The new additional power supply is capable of supplying all of Sable and Roan’s power demands, if required, at a power cost similar to the existing power agreement.
