None
EN
Jubilee to sell Zambia copper tailings it bought last year
['David Mckay']
Miningmx
JUBILEE Metals has received two offers for its Large Waste Project, a copper tailings resource in Zambia it bought only last year for $18m.
The sale comes as Jubilee seeks to derisk it business, having sold $100m worth of assets to date.
“The Large Waste Project is a Greenfields project and as such requires significantly higher capital at greater project execution risk,” he said.
Molefe delivers 3,500 to 4,500 tons of copper ore per month to Jubilee’s Sable refinery for processing into cathode.
Jubilee also withheld copper guidance for the year partly owing to the twin effects of weather disruptions and changes in Molefe’s mine plan.