Aim- and AltX-listed Jubilee Metals’ application for the renewal of a small-scale mining licence in Kabwe, Zambia, has been granted by the Zambian Minister of Mines and Mineral Development.
The licence is in respect of lead, zinc, copper and cobalt and has been renewed for ten years.
CEO Leon Coetzer says that, as Jubilee continues to aggressively drive its expansion across both its Zambian and South African operations, the renewal of the licence in Zambia is an endorsement of the work that the company is doing on the ground at Kabwe and the support from government.
Jubilee has made significant progress in Zambia since it acquired the Sable Zinc Kabwe Refinery last year, particularly with the company securing access to vast amounts of copper-containing surface tailings.
The company aims to produce first copper concentrate from its most recently acquired copper run-of-mine material within the next three months. It will also start processing 150-million tonnes of copper tailings that it secured in June.
Meanwhile, Jubilee has appointed financial services expert Nicholas Taylor as a nonexecutive director to the board.