JUBILEE PLATINUM, MOPANI SEAL REFINING DEAL
By SANFROSSA MANYINDA
JUBILEE Platinum PLC has agreed a venture with Mopani Copper Mines to create additional Zambian copper and cobalt refining capacity as it surges 12 percent on the new Zambian processing capacity.
The mining outfit gained 2.4 percent to 15.35 percent as it effectively secured the missing processing capacity to take it to the 25,000 tonnes per year of copper production it has been targeting in Zambia.
Jubilee Platinum PLC Chief Executive Officer, Leon Coetzer, said in Kitwe that the gain took the one-year advance for the firm’s shares to nearly 190 percent as it moved closer to taking full advantage of its opportunities in Zambia.
Mr Coetzer said the firm focused on the retreatment and metals recovery from mine tailings, waste, slag, slurry and other secondary materials generated from mining operations.
He said the terms of the project would see Jubilee refine copper and cobalt produced at its Kitwe and Luanshya cobalt and copper tailings in Mopani’s processing facilities in the north of the country.
“Our Sable refinery in the south will refine concentrates produced at its in-development Roan project, set for commissioning in November, and copper tailings at Kabwe.
“This will increase capacity by 17,000 tonnes, taking the total to more than 31,000 tonnes per year, well in excess of the 25,000 tonnes targeted,” he said.