31st Mar 2026 08:54
Jubilee Metals Group PLC - London-based metal processing company - Plans to integrate pit two and three to form an enlarged open-pit mine at its Molefe copper operation in Zambia. Once complete, the mining rate of the copper reef will increase to 60,000 tonnes per quarter from the current capacity of 15,000 tonnes per quarter. "The integration of pit 2 and 3, together with an accelerated stripping programme, positions the operation to deliver a stable and consistent feed to our Sable Refinery," Jubilee Chief Executive Officer Leon Coetzer says.
Jubilee also says phase two drilling programme at Molefe, commencing soon, will target the further definition of the eastern extension beyond the current pit one. Last week, Jubilee said the phase-one infill drilling results confirmed the continuity of near-surface copper oxide mineralisation and consistency of grades at Molefe mine.
Share price in Johannesburg: 75 rand cents, down 1.3% early Tuesday
12-month change: down 8.5%
Share price in London: 3.10 pence, down 4.5% on Tuesday
12-month change: down 7.4%
By Artwell Dlamini, Alliance News senior reporter South Africa
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