Jubilee Metals secures approval for Sable Zinc refinery acquisition

12 July 2019 (Last Updated July 12th, 2019 14:59)

Jubilee Metals has secured approval from the Zambian Competition and Consumer Protection Commission (ZCCPC) to acquire the Sable Zinc Kabwe refinery.

Jubilee Metals has secured approval from the Zambian Competition and Consumer Protection Commission (ZCCPC) to acquire the Sable Zinc Kabwe refinery.

The company confirmed in March that it had secured funding for its acquisition of the refinery in Kabwe leaving it only to obtain regulatory approval, which was the final condition prior to closing the deal.

Jubilee Metals is now ready to start a programme of circuit upgrades at the refinery site to process lead, zinc and vanadium.

Jubilee Metals CEO Leon Coetzer said: “Jubilee continues to demonstrate progress with the implementation of its strategy to diversify earnings through both widening our existing metals exposure with the implementation of additional projects, as well as expanding our geographic footprint with our Kabwe project in Zambia.

“With the design process near finalised, this allows Jubilee to commence with the circuit upgrade and expansion of the Sable Zinc Kabwe refinery for the processing of the Kabwe tailings to produce zinc, vanadium and lead.

“The first phase of the project targets the production of Vanadium Pentoxide (V2O5) and a zinc concentrate with phase two bringing the zinc metal refining step and lead concentrate online.”

Additionally, the company noted that the commissioning of its Eland Platinum’s recovery plant in South Africa is underway and its floatation circuit is now reaching flow stability.

The grinding circuit is set to be introduced in the circuit by the middle of this month and production of first saleable platinum group metal (PGM) concentrate is expected next month.