Large waste-rock project, Zambia – update
Name of the Project
Large waste-rock project.
Location
Zambia.
Project Owner/s
Metals recovery company Jubilee Metals Group.
Project Description
The project is a large-scale greenfield copper development comprising more than 240-million tonnes of copper-containing material at surface.
Jubilee has evaluated modular processing and upgrading solutions for the material, including the production of saleable upgraded copper units for further refining.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
None stated.
Capital Expenditure
Earlier studies estimated initial capital at $50-million; Jubilee now describes the project as requiring significant standalone capital investment.
Planned Start/End Date
Not stated; the project is subject to a proposed sale.
Latest Developments
On August 26, 2026, Jubilee selected an undisclosed preferred buyer for the project for $35-million after having received two binding offers. Jubilee intends to monetise the project and prioritise capital for its existing Zambian operations.
The transaction is subject to an initial legal and regulatory review, expected to take about ten days. If satisfactory, the buyer will pay $2.25-million for a 45-day exclusivity period to complete due diligence. The balance will then be paid over three years, with an option to settle within two years for a reduced total of $30-million.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Jubilee Metals Group, tel +27 11 465 1913 or email info@jubileemetalsgroup.com.
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