Kabwe Mining Licence Reinstated

RNS Number : 8765J

Jubilee Metals Group PLC

05 April 2018

 

Jubilee Metals Group PLC

Registration number (4459850)

AltX share code: JBL

AIM share code: JLP

ISIN: GB0031852162

("Jubilee" or "the Company")

Kabwe Mining Licence Reinstated

Jubilee is pleased to announce that the mining license for the Kabwe project ("Project") in Zambia, has been reinstated with immediate effect by the Minister of Mines and Mineral Development. This reinstatement of the mining licences paves the way for Jubilee in partnership with BMR Group PLC to commence with the joint execution of the project.

Leon Coetzer, Chief Executive commented:   

"We welcome this decision by the Minister of Mines and Mineral Development of Zambia which, recognises the work already performed on the Project and the advanced state of the Project's execution readiness.

The execution of the Project which includes a lead, zinc and vanadium recovery circuit will be placed on an accelerated programme. Our project team continued working unabatedly on the execution of the Project and we are confident that the time lines specified under the reinstatement conditions of the licence can be met. "

The Project mining licence 7081-HQ-SML was reinstated with immediate effect, subject to conditions specified by the Minister of Mines and Mineral Development.  These conditions were set to ensure the execution of the project is advanced without delay.

Conditions include that plant construction commence within 3 months of the reinstatement of the licence with commissioning commencing by 30 September 2018 and the first production due by 30 December 2018.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

United Kingdom

5 April 2018

Contacts

Jubilee Metals Group PLC

Colin Bird/Leon Coetzer
Tel [phone] / Tel [phone]
Andrew Sarosi
Tel [phone]

Nominated Adviser

SPARK Advisory Partners Limited
Mark Brady/Andrew Emmott
Tel: [phone]

Broker

Shard Capital Partners LLP
Damon Heath/Erik Woolgar
Tel [phone]

JSE Sponsor

Sasfin Capital, (a member of the Sasfin group)

Sharon Owens
Tel [phone]

 

END

 

 

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