Page 13 - AfrElec Week 08 2023

AfrElec PERFORMANCE AfrElec

Jubilee Metals’ copper output 10% down

due to erratic power supply

ZAMBIA JUBILEE Metals Group (Jubilee), with opera- “Overall production fell below the targeted
SOUTH AFRICA tions in Zambia and South Africa, says it deliv- 3,000t of copper for the period, with the Zam-
ered an operational performance in line with bian operations suffering severe disruptions due
projected earnings and revenue targets in the six to country wide power outages that resulted in
months to December 2022. prolonged down-times and damage to plant
However, it said on February 15 in an update and equipment which impacted its ability to
for the period that erratic electricity and water operate as intended and effectively,” it said in the
supply, especially in Zambia, had slashed copper statement.
output by 10%. “Jubilee has taken decisive corrective action
Jubilee said a strong performance by its South to invest a further approximately $2.5mn to
African platinum group metals (PGMs) and end January 2023 to address and overcome the A strong
chrome operations helped buffer the lukewarm infrastructure challenges which has delivered an performance by
performance in Zambia. upgraded privately owned water infrastructure,
Its newly expanded Inyoni Mine in South further upgraded power infrastructure with South African
Africa delivered 18,208 PGMs ounces (oz) over additional secured power and replacement of
the half year despite increased power outages damaged equipment.” PGMs and chrome
experienced at the company’s operations in that Jubilee chief executive Leon Coetzer
country. described the six months to December 2022 as operations
Chrome production benefited from “challenging”. However, the group’s multi-com- helped buffer
increased capacity, delivering 634,111 tonnes of modity portfolio and corrective investments in
chrome concentrate, with chrome production Zambia helped it overcome the difficulties. the lukewarm
on track to exceed full-year guidance of 1.2mn “Our South African operations delivered
tonnes of chrome concentrate. a very solid result in the period under review, performance in
Jubilee’s enlarged chrome processing capac- despite the aforementioned challenges,” said
ity was utilised to accelerate the production of Coetzer. Zambia.
PGM feed material to increase PGM feed stock “We moved quickly with our chrome and
by 5,016 PGM oz to better protect the Inyoni PGM feed material suppliers to better manage
PGM facility against increased power outages. stock levels and synchronise operational activ-
The miner, which has three projects in South ities while prioritising the implementation of
Africa and as many in Zambia and is traded on back-up power supply units at the hardest hit
London’s AIM and Johannesburg’s Alt-X, said operational areas.
copper production in Zambia was down 10% on “At our operations in Zambia, the impact
the previous six months to 1,149t. of nationwide power shortages has been more
In-process stock from processed material at acute, and we have taken bold steps to not only
the Roan facility increased to approximately 830 overcome the immediate challenges faced by
tonnes of contained copper. operations, but also to actively update the imple-
To address the infrastructural challenges, mentation strategy of our copper and cobalt
Jubilee has invested $2.5mn. expansion.”™

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