JUBILEE Metals Group, an Australian Stock Exchange-listed mining company, has had its licence for Kabwe Mining project renewed for a 10-year period.
According to a statement released by the company today, the Company has received notification from the Minister of Mines and Mineral Development of the approval of the Company’s application for the renewal of Small Scale Mining Licence 7081-HQ-SML in Kabwe.
The Licence is in respect to the minerals lead, zinc, copper and cobalt.
Its renewal has been approved for a period of ten years and is subject to a number of customary conditions specified by the Mines Ministry.
Jubilee Chief Executive Officer Leon Coetzer said Jubilee continues to aggressively drive its expansion across both its Zambian and South African operations and that the renewal of the Licence in Zambia is an endorsement of the work that the company is doing on the ground at Kabwe.
Mr Coetzer also said the renewal shows the support from Government and the Department of Mines that Company receives.
He added that the Company has made significant progress in Zambia since the acquisition of the Sable Refinery in 2019, particularly in recent months with Jubilee securing access to vast amounts of copper-containing surface tailings.
“We expect to be able to produce the first copper concentrate from the most recently acquired copper run-of-mine material within the next three months, which has the potential to significantly bolster earnings, whilst also commencing the processing of the 150 million tonnes of copper tailings that we secured in June. Jubilee has a track record of continuously driving to set new industry standards and we look forward to providing further updates as we continue on this growth trajectory in Zambia with further expansion and development over the long term,” he said.