Aug 10, 2020

Jubilee Metals signs JV as part of Zambia expansion

joint venture
Dan Weatherley
2 min
Zambia Mining
Jubilee Metals has signed a copper processing agreement with an undisclosed private Zambian company as part of its expansion...

Jubilee Metals has signed a copper processing agreement with an undisclosed private Zambian company as part of its expansion. 

Thanks to the joint venture agreement, the company will gain the ability to process two-million tonnes (Mt) of copper run-of-mine (RoM) material.

The agreement will also spark an increase in the supply of copper ore, reaching approximately four-million tonnes.

The company would target these levels of “near-term production” by utilising a new copper concentrate processing facility in the nation.

Jubilee Metals has said that the forthcoming facility will be commissioned in more than one phase, will be constructed on a brownfield site adjacent to the tailings.

It is anticipated to take around four months for the first copper concentrate to be produced by the facility. 

Leon Coetzer, CEO of Jubilee Metals, said: “This JV Agreement offers tremendous earnings potential for Jubilee.”

“The project has been a key target for Jubilee to drive the ramp-up in our copper production while we are implementing our previously announced Project Elephant.

“This transaction complements the already secured large copper resource and will provide us with earnings in the near term.

“The combination of easily accessible large surface resources, together with a fully operational copper refinery, offers us the potential to replicate, at a larger scale, the success Jubilee is achieving with its PGM and Chrome operations in South Africa.

“For Jubilee to have entered into this JV Agreement so soon after announcing Project Elephant is testament to a period of intensive work by our team and I would like to thank everyone for their efforts.”

In September last year, the company completed its previous joint venture with platinum group metals, with the creation of a recovery plant for PGM’s South African operations.

About Jubilee Metals

The company and group has operations across several southern counties of Africa, and targets places as far is Europe, North and South America, and Australia, amongst other areas. 

It is an industry-leading metal recovery business which has an eye for the treatment and recovery of the following: mine tailings, waste, slag, slurry and other secondary materials generated from mining operations.

The company’s strategy is clear: it aims to secure “low capital intensive, long-term commodity production from mine surface waste materials with reduced risk and capital outlay when compared to traditional mining techniques”.

Learn more on the official website, which can be found here.

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Apr 22, 2021

Lynas revenue jumps 21% as rare earth prices jump

2 min
Lynas Rare Earths sees revenue boost as selling prices for the key metals hit record highs amid strong demand for neodymium and praseodymium (NdPr)

Australian miner Lynas Rare Earths posted a 20.6% rise in revenue in the March quarter as selling prices for the key metals it mines hit record highs amid strong demand, particularly for neodymium and praseodymium (NdPr).


NdPr is used in magnets for electric vehicles and windfarms, in consumer goods like smartphones, and in military equipment such as jet engines and missile guidance systems.

The company said it plans to maintain production at 75% however, as it seeks to continue to meet covid-19 safety protocols and grapples with shipping difficulties. Shares in Lynas fell 6.1% after the results.

“They have faced a few logistics issues, and it would be good to know when they are going to start lifting their utilisation rates a bit,” said portfolio manager Andy Forster of Argo Investments in Sydney.

“Pricing has been pretty strong although it may have peeled back a bit recently. I still think the medium, long-term outlook is pretty good for their suite of products.”

Lynas post ed revenue of A$110mn ($85.37mn) for the three months to the end of March, up from A$91.2mn a year earlier as prices soared.

Rare Earths

It said its full product range garnered average selling prices of A$35.5/kg during the March quarter, up from $23.7 in the first half of the financial year. “While the persistence of the covid crisis, especially in Europe, calls for careful forecasts for our business ahead, we see the rare earth market recovering very quickly,” said Lynas, the world’s largest rare earths producer outside China.

Freight demand has spiked during the pandemic, while the blockage of the Suez Canal in March delayed a shipment to April.

Lynas’ output of 4,463 tonnes of rare earth oxide (REO) during the quarter was marginally lower than 4,465 tonnes from a year earlier.

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