Jubilee Metals (LSE:JLP) reported combined pre-refining copper production of 3,739 tonnes from its Roan operations and Molefe Mine for the year ended 30 June 2026, an increase of 225% from the previous year.
Production of copper cathode and sulphide material at the Sable Refinery increased to 2,120 tonnes.
At Roan, Jubilee reported stable operations and higher oxide concentrate production during the year, despite an extended maintenance period associated with the installation of a new fines dewatering circuit.
Molefe Mine Increases Production
Molefe, Jubilee’s first owned mine in Zambia, continued to increase production during the period, with the company reporting higher-grade output alongside ongoing drilling and pre-stripping activities.
Jubilee is targeting higher run-of-mine production rates at Molefe and plans to introduce bulk ore sorting as it works to provide additional feed to the Sable Refinery.
The company is seeking to increase the proportion of copper feed supplied from resources under its control as part of its move towards an integrated mining, processing and refining model.
Project G Development Planned for 2027
Jubilee is also developing a wider mining cluster around Molefe. Project G is scheduled to enter development from February 2027.
The company is considering potential joint ventures intended to provide additional sources of material for its processing operations.
Jubilee reported cost pressures during the period from higher acid and diesel prices.
Large Waste Project Sale Could Raise Up to $35 Million
As part of a portfolio review, Jubilee has entered into binding heads of terms for the proposed sale of its Large Waste Project for consideration of up to $35 million.
The company intends to direct capital towards its Zambian copper operations as it develops its mine-to-metals model.
Jubilee Metals operates mining, processing and refining assets in Zambia, including Roan, the Molefe Mine and the Sable Refinery. Its strategy involves increasing the use of company-controlled copper resources to supply its processing and refining operations.
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