Metals processing company Jubilee Metals will allocate significant resources in 2022 for an international expansion strategy, with a new standalone business unit set to be created to identify and pursue opportunities in the global area.

The Aim- and AltX-listed company says it has received approaches to work on new projects across continents and believes it is now the appropriate timing to look to broaden its focus in an “organised, strategic, but aggressive way”.

Jubilee, which has created successful metal recovery businesses in South Africa and recently in Zambia, states that its processing expertise can be deployed in multiple jurisdictions and believes that its international opportunities are vast. Outside of Africa, the company is already working with Caerus Minerals to research and test dumps in Cyprus, left by mining operations over many years.

The new business unit will combine technical, commercial, country risks and commodity fundamentals expertise, while Jubilee will maintain centralised control over finance and business development.

To take its ‘Jubilee Way’ brand global, the firm will look to expand its team, bringing together an executive and nonexecutive team to drive the international strategy with their experience and contacts, says CEO Leon Coetzer.

“The Jubilee board has been fundamental to date to our success, and we will consider carefully its development going into the first half of 2022. The ‘Jubilee Way’ is the product of a highly capable team, and I will maintain all of the principles developed to ensure that the next phase of our growth is accelerated in a positive, green and well-governed manner.”

Nonexecutive chairperson Colin Bird announced that he would step aside and that he would assist the board to find his replacement over the next six months.

“Jubilee is now well positioned to expand internationally, and to do so must further tailor the structure and knowledge base of the business. It is critical that we have individuals in place with the specific capability, values, and experience to move the company forward. I personally recognise in reaching this point that it is appropriate that I move on to allow a new chairperson to steer the company in the next phase of its evolution.  The dedication, energy and skills I have applied, and continue to apply, are more appropriate to companies which are at an earlier stage of their development, and I look forward to continuing my endeavours in that arena,” he comments.

Further announcements regarding the detailed international strategy will be made in the first half of 2022.