14th Sep 2026 11:51
(Alliance News) - Jubilee Metals Group PLC on Monday reported robust copper production, while taking a "disciplined approach to production guidance".
The London-based metal processing company operating in Zambia posted copper production from Roan copper concentrator operations and Molefe copper mine pt 3,739 tonnes for the financial year that ended June 30, multiplied from 1,149 tonnes a year before.
Jubilee said Roan had reached "stable" operational output, with a targeted production for the 2027 financial year of between 2,850 tonnes and 3,150 tonnes. For financial 2026, Roan copper production was 2,823 tonnes.
"Roan represents the first established source of copper concentrate supplying Sable [refinery], with the Molefe mine and Project G targeted to become the next operational feed sources as Jubilee progressively builds the baseload supply required to support its refining capacity," the group said.
Project G is an open pit copper mining project, in which Jubilee owns 65% stake.
Third-party processing has provided it with an important platform from which to establish and grow copper production in Zambia, it said.
Jubilee said it is adopting a "disciplined approach" to production guidance, with forecasts based on stable operating performance rather than assumptions relating to project ramp-up.
Molefe remains in its planned ramp-up and operational proving phase as the open pit continues to be expanded and pre-stripped, Jubilee said.
The current project target is to increase run of rate material delivered to Sable to about 7,000 tonnes per month and 7,500 tonnes before progressing towards 10,000 tonnes.
In London, Jubilee shares lost 2.1% to 2.0 pence on Monday, while they were flat at 50 rand cents in Johannesburg.
By Artwell Dlamini, Alliance News senior reporter South Africa
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Jubilee Metals