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
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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: +27 (0) 11 465 1913 / Tel: +44 (0)
7797 775546
Nominated
Adviser - SPARK Advisory Partners
Limited
Andrew Emmott/James Keeshan
Tel: +44 (0) 20 3368 3555
PR & IR
Adviser - Tavistock
Jos Simson/ Gareth Tredway
Tel: +44 (0) 207 920 3150
Joint
Broker - RBC Capital Markets
Farid Dadashev/Jamil Miah
Tel +44 (0) 20 7653 4000
Joint Broker -
Zeus Capital
Harry Ansell/Katy
Mitchell
Tel: +44 (0) 20 7220 1670/+44 (0) 113 394
6618
JSE Sponsor -
Questco Corporate Advisory Proprietary
Limited
Alison McLaren
Tel: +27 63 482 3802
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.