Jubilee Metals Group has announced that the mining license for the Kabwe project in Zambia has been reinstated with immediate effect by the Minister of Mines and Mineral Development.
In a previous announcement BMR Group (BMR) reported that they received a letter from the Mining and Cadastre Department of Zambia terminating, with immediate effect, the aforementioned mining right in respect of BMR’s Kabwe operation.
BMR also stated that the letter received on 7 February 2018 indicated that BMR has 30 days to exercise its right of appeal.
This reinstatement of the mining licences therefore paves the way for Jubilee in partnership with BMR to commence with the joint execution of the project.
“We welcome this decision by the Minister of Mines and Mineral Development of Zambia which, recognises the work already performed on the project and the advanced state of the project’s execution readiness,” comments chief executive Leon Coetzer.
“The execution of the project which includes a lead, zinc and vanadium recovery circuit will be placed on an accelerated programme.
“Our project team continued working unabatedly on the execution of the Kabwe project and we are confident that the time lines specified under the reinstatement conditions of the licence can be met.”
The Kabwe project mining licence 7081-HQ-SML was reinstated with immediate effect, subject to conditions specified by the Minister of Mines and Mineral Development.
These conditions were set to ensure the execution of the project is advanced without delay.
Conditions include that plant construction commence within three months of the reinstatement of the licence with commissioning commencing by 30 September 2018 and the first production due by 30 December 2018.
Jubilee Metals Group PLC, formerly Jubilee Platinum Plc, is a mining-exploration-to-metal development company focused on platinum group elements (PGE) and nickel. The Company is engaged in exploration and exploitation of natural resources. The Company’s segments are PGE beneficiation and development, nickel tailings, exploration and mining, and other operations. The PGE beneficiation and development segment is engaged in the beneficiation of PGEs and associated metals and development of PGM smelters utilizing commercialization rights of the ConRoast smelting process, located in South Africa. The nickel tailings segment is engaged in evaluation of the reclamation and processing of sulfide nickel tailings at BHP Billiton Proprietary Limited’s Leinster, Kambalda and Mount Keith properties in Australia. The exploration and mining segment is engaged in the exploration and mining of PGEs and associated metals. The Company’s projects include Tjate Platinum Project and Ambodilafa Project.