Jubilee Metals Share Discussion Threads

[plat hunter] 30/11/2020 08:55

Mercury,What about the zinc and all the other metals that were destined for sable.. There's now no more capacity available with 25k of phosphate.

[plat hunter] 30/11/2020 08:49

What's the magin on the conentrate anyone know?

[1madmarky] 30/11/2020 06:43

Kenny- 3rd party plus our own... everything helps

[mercury287] 30/11/2020 05:36

Understood the point - was more interested in questioning the basis. Not a huge leap to do exactly what the company has said it would do. Ramp up production to 25ktpa of high grade copper cathode with strong, long-term cash flows (20+ years) and consider options to expand refining capacity or sell the excess concentrate to the market.

[plat hunter] 29/11/2020 22:55

I think you've missed the point. If you the the life of material is substantially greater than my calculations then surely you need an even bigger refinery, no?

[mercury287] 29/11/2020 22:39

Hi PH - interested in where you've sourced your numbers that suggest 350 mt of copper tails represent 9 years of production, notably your views on the below:- 25bps when Elephant states likely grade of 0.35% Cu- Reference to copper phosphate when Sable is capable of producing A-grade copper cathode (99.99% Cu)- 27% recovery rate - when majority of copper mines achieve 75-90% recovery from similar grade ore.Genuinely interested in your rationale.

[alwaysevolving] 29/11/2020 22:11

Courtesy of Loganair on the SOLG thread:

Jefferies forecasts multi-year copper deficits, a surge in prices:


“Renewable power systems are at least five times more copper-intensive than conventional power,” the analysts note.

The copper market is heading into a multi-year period of deficits, broking house Jefferies has predicted in an extensive and in-depth analysis.

There’s been some disruption to supply this year due to coronavirus, but the Jefferies analysis focusses more on the potential increases in demand driven by growth in the deployment of renewable energy and electric vehicles.

As a natural knock-on effect, Jefferies predicts that higher prices will incentivise investment in new mine capacity.

Copper price forecasts lead to upgrades:

Accordingly, the broker has raised its copper price forecasts, which it runs on three different scenarios, a base case, a bull case for renewables, and a bear case.

In all three scenarios the price looks set to peak in 2026, under the base scenario at US$4.50 per pound, under the bull scenario at US$5.00, and under the bear scenario at US$3.75.

The timing will obviously be key to the accuracy of the Jefferies forecasts, but there’s little doubt the way it’s reading the trends is correct.
Renewables five times more copper-intensive:

In an interesting slide midway through the analysis, the broker lists all the countries that have pledged or legislated for a carbon neutral future. The list is extensive, includes all the world’s major economies except the USA.

The UK has already all but phased out its reliance on coal. Natural gas will be next, if harder to achieve.

All of which means investment in renewable infrastructure globally is likely to be extensive.

“Renewable power systems are at least five times more copper-intensive than conventional power,” says Jefferies.

“Offshore wind is the most copper intensive, at around 15 tonnes per megawatt (MW) of installed capacity, due to extensive copper cable requirements. This compares to onshore wind and solar at around five tonnes per megawatt and conventional power at around one tonne per megawatt.

It’s these kind of exponential increases that have lead Jefferies to estimate that on the base case global copper demand is likely to increase from around 23mln tonnes this year to over 30mln tonnes by 2030.

“We forecast copper demand in renewable energy to increase from 991,000 in 2020 to 1.9mln tonnes in 2030 in our base case and to 6.4mln tonnes in our bull case,” says Jefferies.

Electric vehicle demand revving up:

In percentage terms, though, the biggest boost to demand will come from electric vehicles. In this space, demand will be ten times higher in 2030, with overall tonnes consumed amounting to nearly 1.7mln tonnes.

“EVs require around 83kg of copper on average while most internal combustion engine vehicles contain less than 20kg of copper,” Jefferies points out.

“In addition, EV charging points contain around 10kg of copper each.”

By 2050 Jefferies reckons there’ll be at 60mln electric vehicles on the roads.

All of which means copper demand will significantly exceed supply, starting in 2021. And shortages should lead to substantially higher prices.

“If our assumptions are correct, the squeeze higher in copper is a question of 'when' rather than 'if',” says Jefferies.

[serratia] 29/11/2020 14:08

Cap ex open pit mine.

[plat hunter] 29/11/2020 13:36

Well 350 million tonnes at 25 bps is a total of 875,000 tonnes of copper concentrate.Further refining to copper phosphate will return approx a 27% yield or 236,000 tonnes. If Sable can handle 24,000 tonnes per year then that's 9 years of material. The problem with that, is that Sable is maxed out at that capacity. In order to grow further or even consider the zinc that's on their doorstep then a huge upgrade to refinery capabilites is required. Any ideas how much 100k tonnes a year copper refinery costs?

[nelson01] 29/11/2020 13:01

Lol....he’ll be sitting in his cab stoned out of his tiny mind making engine noises.

[robers98] 29/11/2020 12:52

Thought it was PH who was giving his expert views on who jlp were dealing with in Zambia.

[robers98] 29/11/2020 12:49

Crux bushveld interview might give some insight into vanadium.

[kennyp52] 29/11/2020 12:21

Am I correct in saying we are not due to produce significant copper until Roan / Elephant are up and running and therefore any copper price increases are difficult to price in ? i.e. don’t you need to be producing to get excited about the highs ? Just a thought .

[kennyp52] 29/11/2020 12:16

Bullster .. have you sussed out the 5m fair value increase in 2019 only to be written off in full again 2020? Seems a curious accounting adjustment and just wondered if anyone knows what this is ?

[gsg] 29/11/2020 10:31

Yes, but it confirms the thinking.

[plat hunter] 29/11/2020 09:41

DCM materialAny news on that yet, it was supposed to be worth 30 million 2 years ago. Probably more like 50 by now.

[deme1] 29/11/2020 09:20

Was this not already know by investors on this BB?

[bullster] 28/11/2020 21:53

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Here is the history of Horizon Mining Limited.
I believe Horizon Mining Limited was incorporated in Mauritius and not the UK.

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AUGUST 6, 2018Source: RNS
RNS Number : 9019W
ZCCM Invs.Hldgs PLC
06 August 2018


7. Partnership with Horizon Mining Limited to reprocess tailing dams



· ZCCM-IH and Horizon Mining Limited ("Horizon Mining") set up a Joint Venture Company ("JVC") in November 2013, following a Consent Order signed by the parties, as a resolution to a legal suit that arose in relation to Tailings Dams ("TDs") No. 25, 26 and 27 located in Kitwe, Zambia. The JVC, Copper Tree Minerals Limited ("Copper Tree"), will undertake to reprocess TDs 25, 26 and 27.

· In March 2015, ZCCM-IH transferred its mining licences for TDs 25, 26 and 27 to Copper Tree and became entitled to a 15% Free Carry shareholding in Copper Tree.

· In 2017, ZCCM-IH sold land in Kitwe to Copper Tree in exchange for additional shareholding. The extra shareholding as a result of the sale resulted in an increase in ZCCM-IH's shareholding to 15.58% in Copper Tree. The said land is to be used as a dump site for waste materials arising from reprocessing the TDs.

· In June 2018, ZCCM-IH and Horizon Mining signed a Shareholders' Agreement relating to Copper Tree.

· Copper Tree is in its early developmental stage and is yet to set up a plant and start reprocessing the TDs.

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[gsg] 28/11/2020 21:19

Great find Bullster.

[bullster] 28/11/2020 20:42

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Updated: November 17, 2020

Two British firms seals deal processing mineral materials from tailings dams in Kitwe.

TWO United Kingdom (UK) based mining firms joined hands establishing a tailings retreatment plant which will be processing mineral materials from tailings dams in Kitwe.

Copper Tree Minerals and Jubilee Metals Group will be processing materials from the tailing dam behind Kitwe High Court, Nkana East and another place West of Mopani Copper Mines in Kitwe.

The companies will also be involved in remediation of the land beneath the tailings dams to make them suitable for public and commercial use.

Speaking in an interview in Kitwe yesterday, Copper Tree Minerals spokesperson Charlie Chase-Gardener said the jubilee brings on board its in-house expertise which will significantly accelerate the project development cycle.

Several job opportunities are expected to be created by the two companies whose initial investment into the project is although he could not disclose the exact value of the project investment.

“Jubilee will also benefit from the detailed resource analyses and vast process test programmes previously performed by Copper Tree,” he said.

Mr Chase-Gardener said the partnership will create significant employment opportunities in both construction and operations phases.

He said Copper Tree has always employed Zambian companies and workers for drill campaigns, laboratory test work, transportation and logistics.

Mr Chase-Gardener said the two companies remain committed to working with Zambian companies and workers for its construction and operations.

“ Once the process of removing the tails from the dams is complete, about 314 hectares of land will be freed for use, “ he disclosed.

Mr Chase-Gardener said Copper Tree and Jubilee will work closely with the Zambian Government to ensure an appropriate regeneration plan is implemented in the future.



Tailings dam behind Kitwe High Court


Tailings dam Nkana East


Tailings dam West of Mopani Copper Mines


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[gsg] 28/11/2020 19:50

africanminingmarket.com/zambia-to-conclude-deal-with-glencore-over-mopani-within-a-month

[gsg] 28/11/2020 15:15

Going back to the 3rd copper tailings announcement 3 weeks ago, imo it reads that Jubilee have deepened their links with Horizon into a development partnership?

"Jubilee has secured the exclusive processing rights to the material through its subsidiary Braemore Platinum, by entering into tailings supply and process development agreements with a number of privately held entities that collectively hold both the mining rights to the tailings and the property title on which the tailings are located."

"The agreements include both the formation of a development partnership with a well-established Zambian private entity that has invested in securing various tailings assets, as well as securing the rights to the processing of the tailings from the resource owners."