Jubilee Metals Group (LSE:JLP) has successfully completed its scheduled annual maintenance shutdown at the Roan concentrator in Zambia, with the operation now back online and running at full capacity. The company is targeting run-of-mine processing rates of 30,000 tonnes per month as it seeks to strengthen copper production across its integrated Zambian operations.
The Roan facility processes third-party ore into copper concentrates for refining at Jubilee’s Sable refinery and also produces high-grade sulphide concentrate for direct sale. During the maintenance period, the company completed several operational upgrades aimed at improving efficiency and enhancing copper recovery rates.
Among the key improvements was the commissioning of a new fine copper concentrate dewatering facility. The system is designed to improve the drying, handling and transportation of fine concentrate material, which accounts for approximately one-quarter of the copper contained in Roan’s feedstock. Management reported that the facility has already demonstrated processing capacity above current production requirements, although optimisation work remains ongoing.
Jubilee also upgraded the plant’s copper oxide flotation circuit, with the objective of increasing recovery rates and improving overall operating performance. The company expects the enhancements to contribute to a targeted 5% improvement in copper oxide recovery efficiency.
The maintenance shutdown additionally provided an opportunity to introduce measures intended to offset rising operating costs, particularly those associated with fuel and sulphuric acid consumption. These cost pressures have affected mining and processing operations across the region, making efficiency improvements a key priority for management.
As the upgraded systems move toward steady-state operation, Jubilee plans to assess performance across both the Roan concentrator and Sable refinery before providing updated copper production guidance. The company is also evaluating the potential introduction of additional throughput capacity through a front-end dense media separation (DMS) circuit, which could further increase processing volumes in the future.
While the operational progress at Roan represents a positive development, the company continues to face challenges related to its recent financial performance. Revenue and profitability have weakened significantly, while free cash flow remains under pressure. Management has highlighted ongoing efforts to streamline operations and improve performance in Zambia, although uncertainty remains around future production levels and financing requirements.
Market indicators currently present a mixed picture, with technical signals remaining relatively subdued and valuation metrics constrained by the company’s loss-making position. Investors are therefore likely to focus on the successful optimisation of the upgraded facilities and the delivery of improved copper production performance over the coming months.
More About Jubilee Metals Group
Jubilee Metals Group is an AIM- and AltX-listed metals producer focused on building an integrated copper business in Zambia. The company combines processing facilities, mining assets and large-scale resource recovery projects to target annual copper production of 25,000 tonnes.
Its operations include the Roan concentrator, the Sable refinery and the Large Waste Rock Project, all of which form part of a broader strategy centred on recovering value from previously underutilised materials. Through its emphasis on innovative processing technologies and circular resource utilisation, Jubilee aims to establish a scalable and sustainable copper production platform in Southern Africa.
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