Jubilee Metals has resumed full operations at its Roan concentrator in Zambia following the completion of its annual maintenance shutdown, marking a significant step in stabilising and scaling its integrated copper production platform.

The restart includes the commissioning and ramp-up of a newly installed fine copper concentrate dewatering circuit, designed to improve processing efficiency and increase operational flexibility. The system allows for the treatment of both newly produced fine concentrate and historical stockpiles, improving throughput consistency and supporting higher recovery rates.

Jubilee Metals Chief Executive Officer Leon Coetzer said the development represents an important milestone for the company’s Zambia operations.

“The dewatering circuit marks a key milestone in expanding our Zambia operations, improving flexibility and supporting the scale-up of our integrated copper strategy. Following the planned maintenance shutdown, operations have returned to full capacity targeting 30,000 tonnes per month, with June performance expected to provide a clearer view of sustainable recovery efficiencies,” he said.

Operations at Roan have now returned to full capacity, targeting 30,000 tonnes of run-of-mine throughput per month. While production in May 2026 was temporarily affected by the scheduled shutdown, the company expects June performance to better reflect stable operating conditions as the system settles and in-circuit inventory is rebuilt.

Roan remains a central component of Jubilee’s three-pillar copper strategy, processing third-party ore into concentrates for refining at the Sable refinery while also producing sulphide concentrate for direct sale. Over the past three years, the facility has been steadily upgraded to handle variable ore quality, positioning it as a flexible processing hub for complex copper resources.

The newly commissioned dewatering circuit addresses a key operational gap, with fine concentrate accounting for approximately 25.5% of contained copper in Roan’s feed. Improving its handling and transport is expected to unlock additional value, with early results indicating the circuit can operate above current production levels as optimisation continues under varying feed conditions.

The maintenance shutdown also enabled the implementation of cost-control measures amid rising input costs. An expansion of the copper oxide flotation circuit is expected to increase recovery rates by around 5%, helping offset sharp increases in fuel and chemical expenses.

Fuel prices have risen significantly in Zambia, increasing transport costs for ore supply and concentrate movement, while acid consumption and logistics together account for more than a third of monthly operating costs.

Jubilee also retains optionality to further increase throughput through integration of its front-end DMS circuit, which is being considered for deployment in June 2026.

The restart comes at a time when Zambia’s copper sector is navigating a challenging operating environment, with multiple processing facilities undergoing maintenance and global supply chains experiencing pressure.

Against this backdrop, Jubilee’s focus on efficiency, flexibility, and recovery optimisation positions the company to better manage short-term constraints while advancing its long-term production goals. The company is expected to issue updated guidance once stable performance is achieved across both Roan and Sable operations.

With a long-term production target of 25,000 tonnes per annum, Jubilee continues to build a vertically integrated copper business in Zambia, leveraging technology and advanced processing systems to unlock value from both primary and previously underutilised resources.