Additional power supply secured for Roan re-start

Jubilee Metals Group PLC

21 January 2025

 

Jubilee Metals Group Plc

Registration number (4459850)

AIM share code: JLP

Altx share code: JBL

ISIN: GB0031852162

('Jubilee' or 'Company' or 'Group')

Dissemination of a Regulatory Announcement that contains inside information according to UK Market Abuse Regulations. Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.

Additional power supply secured for Roan to re-start

Jubilee, a diversified metals producer with operations in South Africa and Zambia, is pleased to announce that regulatory approval has been granted for its new power supply agreement in Zambia,  with power delivery commencing on 20 January 2025. This important milestone enables the Company to restart the Roan concentrator and ensures a stable power supply going forward.

The additional power supply agreement, executed with a new broad based power provider, secures access to a distributed power base from multiple sources of generation, minimising the reliance on a single supply source and mitigates risks associated with localised power network distribution limitations. The power supply has been delivered at a cost comparable to the Company's existing power agreement, offering both economic and operational stability.

Highlights:

§ Power delivery commenced on 20 January 2025 following approval by the regulator under the new power agreement.

§ The additional power supply agreement is now fully operational and capable of meeting the complete power demands of both the Roan concentrator and the Sable processing plant, if required.

§ The power solution leverages a diversified network of power generation sources to ensure reliability and continuity of operations.

§ The company is actively preparing for the restart of the Roan concentrator, with copper production rates anticipated to return to target levels as operations ramp up.

Statement from Leon Coetzer, Jubilee CEO:

"The Jubilee team demonstrated great resilience in overcoming the recent power challenges at its Zambian operations. The commencement of the additional power supply successfully addresses current power supply limitations that affected Roan's ability to operate historically. We now turn our attention to preparing the plant for re-start and remain focused on delivering reliable production and operational resilience."

21 January 2025

For further information visit www.jubileemetalsgroup.com, follow Jubilee on Twitter (@Jubilee_Metals) or contact:

Jubilee Metals Group PLC 

Leon Coetzer (CEO) / Jonathan Morley-Kirk (FD)

Tel: [phone]  / Tel: [phone]

Nominated Adviser - SPARK Advisory Partners Limited 

Andrew Emmott/James Keeshan 

Tel: [phone] 

PR & IR Adviser - Tavistock 

Jos Simson/ Gareth Tredway

Tel: [phone] 

Joint Broker - RBC Capital Markets

Farid Dadashev/Jamil Miah

Tel [phone]

Joint Broker - Zeus Capital

Harry Ansell/Katy Mitchell  

Tel: [phone] 

JSE Sponsor - Questco Corporate Advisory Proprietary Limited 

Alison McLaren

Tel: [phone]

About Jubilee Metals Group Plc

Jubilee is a low-cost, diversified producer, specialising in the recovery and processing of metals from previously overlooked resources, such as unprocessed historical waste rock, run-of-mine materials and tailings in Zambia and South Africa. The Company's low-capex, modular processing facilities are deployed close to these various types of material, producing high grade concentrates for sale or further refining to finished metal at the Company's downstream facilities. Production currently consists of copper, chrome, and platinum group metals (PGMs). The modular processing facilities offer a platform for growth and the rapid expansion of Jubilee's operational footprint in Zambia and South Africa. Jubilee's success is derived from operational and technical excellence, an experienced management team and a pioneering Technical Development Centre.

 

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