Sharenet Sites 
Sharenet Sites
Roan Concentrator Update
Jubilee Metals Group PLC
Registration number: 4459850
AIM share code: JLP
Altx share code: JBL
ISIN: GB0031852162
('Jubilee' or 'the Company' or 'the Group')
Dissemination of a Regulatory Announcement that contains inside information according to UK
Market Abuse Regulations. Not for release, publication or distribution in whole or in part in, into or
from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations
of such jurisdiction.
Roan Concentrator Update
Jubilee, the integrated copper producer and resource developer in Zambia, is pleased to provide an
operational update on its Roan concentrator (Roan) operations, following the successful completion
of the scheduled annual maintenance shutdown and the resumption of commissioning and ramp-up
activities of the fine copper concentrate dewatering circuit.
Highlights
- Roan annual maintenance shutdown completed during May 2026, with operations
successfully resumed at full capacity targeting run-of-mine throughput of 30 000tpm
- New fine copper concentrate dewatering facility commissioning completed with fine
tuning of performance measures underway to achieve stable continuous operations
- Maintenance period utilised to upgrade the copper oxide flotation circuit to target further
improved copper recoveries and enhance operating efficiencies, partly offsetting rising
fuel and chemical costs
Statement from Leon Coetzer, Jubilee CEO:
"The successful progression of the Roan dewatering circuit through commissioning and ramp-up
marks another important milestone in the expansion of our Zambia copper operations. The ability to
process both newly generated fine concentrate material together with the historical stockpile
provides increased operational flexibility and supports the continued scaling of our integrated copper
strategy.
While May 2026 production was impacted by the planned annual maintenance shutdown at Roan,
operational performance has returned to full capacity targeting a processing run rate of 30 000tpm of
ROM with increased copper oxide recovery rates due to the expanded flotation circuit. We expect
June 2026 performance to provide a clearer indication of sustainable operating capacity and recovery
efficiencies with the addition of the fines concentrate from Roan now being processed at Sable. As
previously noted, the monthly fines concentrate production contains an approximate 140t of copper
previously stockpiled at Roan."
Operational Update
Roan plays a key role in the Company's integrated copper production strategy, processing third-party
run-of-mine copper ore (ROM) into copper concentrates for further refining at the Sable refinery,
while also producing high-grade copper sulphide concentrate for direct sale into the market. The Roan
circuit has been upgraded over the past three years to accommodate variances in quality and
consistency of third-party ROM to offer a unique solution for the recovery of copper from complex
ROM sources. The latest addition to the Roan operations is the expanded copper concentrate
dewatering circuit, designed to accelerate the drying and processing of fine copper concentrate
material. This circuit was commissioned prior to the commencement of the annual maintenance
period to use the opportunity to address final adjustments to the new dewatering circuit. The circuit
is expected to operate at full capacity following the restart of the Roan operations.
The fines concentrate stream accounts for approximately 25.5% of the contained copper within the
total ROM feed to Roan. The new concentrate dewatering circuit has demonstrated sufficient
operating capacity at throughput rates above current fines concentrate production levels.
Optimisation work is focused on refining the operating parameters required to maintain stable
continuous operation of the circuit under varying feed density conditions. Roan also currently holds
significant stocks of fine concentrate material that has naturally dried during the current dry weather
period, allowing transport to Sable to supplement any temporary interruptions in dried fine
concentrate production.
The annual maintenance period for the Roan operations has successfully completed. Main activities
focussed on the ROM feed circuit and maintenance of the internal pumping mechanisms of the
flotation units as well as final modifications to the new dewatering circuit for the fines concentrate.
In addition, the company utilised the scheduled down time to implement key interventions to counter
the sharp rise in global fuel and acid prices. Key interventions included the expansion of the copper
oxide recovery circuit to further improve copper efficiencies by a targeted 5% to partly offset the near
80% increase in local fuel prices which directly impacts the transport cost associated with ROM
delivered to Roan and copper oxide concentrate transported to the Sable refinery. Acid consumption
and transport costs currently account for approximately 20% and 16% of monthly expenditure,
respectively.
Roan has recommenced operations following the maintenance period and is operating at full capacity
targeting 30 000tpm of ROM. The success of the interventions to further improve copper efficiencies
will be known over the coming week as Roan's in circuit inventory is rebuilt at stable operations. Roan
holds the option to further increase throughput with the inclusion of the front-end DMS circuit which
will be considered during June 2026.
The Company expects to provide a further update on copper production guidance once steady-state
operational performance has been demonstrated consistently across the integrated Roan and Sable
processing circuits.
4 June 2026
For further information contact:
Jubilee Metals Group PLC
Leon Coetzer (CEO)/Jonathan Morley-Kirk (FD)
Tel: +27 (0) 11 465 1913 / Tel: +44 (0) 7797 775546
Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/James Keeshan
Tel: +44 (0) 20 3368 3555
PR & IR Adviser - Tavistock
Jos Simson/Gareth Tredway
Tel: +44 (0) 207 920 3150
Joint Broker - Zeus Capital
Harry Ansell/Katy Mitchell
Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618
Joint Broker - Shard Capital Partners LLP
Erik Woolgar/Gareth Burchell
Tel +44 (0) 207 1869900
JSE Sponsor - Questco Corporate Advisory Proprietary Limited
Alison McLaren
Tel: +27 63 482 3802
About Jubilee Metals Group
Jubilee Metals, listed on AIM and the Altx of the JSE, is a copper producer focused on building a world-
class integrated copper business in Zambia. The Company aims to reach 25 000 tonnes per annum of
copper production by integrating exploration, mining, concentrating and refining through its three-
pillar strategy, combining the Roan concentrator, the Sable refinery and regional mining assets and
the Large Waste Rock Project. Led by an experienced team, Jubilee applies innovative technologies to
transform previously underutilised materials into value while supporting circular resource use and
strong environmental stewardship.
For further information, please visit www.jubileemetalsgroup.com and follow Jubilee on X at
@Jubilee_Metals
Date: 04-06-2026 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
