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Jubilee Metals has reportedly entered into a strategic partnership with a Middle Eastern conglomerate to invest in the recently secured copper waste rock assets on surface in Zambia.
Jubilee Metals, in partnership with International Resources Holding (IRH) of the United Arab Emirates would recover copper from the estimated 350 million tonnes of dumped material, which early preliminary surface sampling results indicated grades higher than 1.5 percent of copper.
This is according to a statement in Mining Weekly on Wednesday seen by Zambia Monitor.
Read more: Debate over Mopani, Jubilee joint venture trends in Mufulira
It is believed that while IRH had undertaken to provide all capital required through a combination of equity and shareholder loans, Jubilee had been appointed to design, implement and operate the mining and processing solution.
Processing by Jubilee’s newly developed modular copper units aims to produce, from this historical waste rock dump, more than 20,000 tonnes of copper at below US$4,000 per tonne of copper.
It is held that Jubilee’s copper processing modules would help to rehabilitate environmentally unfriendly dumps that have accumulated over decades of copper mining in Zambia.
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