Aim-listed metals processing company Jubilee Metals Group on Thursday confirmed the completion of its acquisition of the Sable Zinc Kabwe refinery, in Zambia.
“I am delighted that we have successfully achieved all conditions precedent for the implementation of the Sable Zinc Kabwe acquisition, with the final approval from the Zambian Competition and Consumer Protection Commission being ratified and completion formalised,” Jubilee CEO Leon Coetzer commented.
Jubilee acquired the refinery from Glencore and the final administrative process for the refinery handover and share transfer is expected to be completed before the end of the month.
Coetzer explained that, with the design process nearly finalised, the approval allows Jubilee to start the circuit upgrade and expansion of the refinery for the processing of the Kabwe tailings to produce zinc, vanadium and lead.
“The first phase of the project targets the production of vanadium pentoxide and a zinc concentrate, with Phase 2 bringing the zinc metal refining step and lead concentrate online.”
Phase 1 implementation is expected to deliver first production within four months of taking effective control of the refinery.
PLATCRO
The PlatCro platinum group metals (PGM) project, which could potentially add 30 000 oz/y to Jubilee’s existing 30 000 oz/y capacity, has reached its first phase commissioning targets, achieving stable flow rates through the Eland PGM plant.
Coetzer said the next commissioning target would be to bring the grinding circuit online in the middle of this month.
“We expect to achieve saleable PGM concentrates during August.”
DILOKONG CHROME MINE (DCM)
“Our ground-breaking DCM fine chrome project continues to deliver on expectations, having produced in excess of 5 000 t of chrome concentrate during the month of June,” Coetzer noted, adding that Jubilee was now targeting the integration of the fine chrome recovery process into its remaining chrome operations.
The fine chrome recovery circuit is targeting 25 000 t of chrome processing a month. It achieved close to 25 000 t for June.