Jubilee Metals Group PLC Kabwe Mining Licence Reinstated (8765J)
April 05 2018 - 1:00AM
UK Regulatory
TIDMJLP
RNS Number : 8765J
Jubilee Metals Group PLC
05 April 2018
Jubilee Metals Group PLC
Registration number (4459850)
AltX share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or "the Company")
Kabwe Mining Licence Reinstated
Jubilee is pleased to announce that the mining license for the
Kabwe project ("Project") in Zambia, has been reinstated with
immediate effect by the Minister of Mines and Mineral Development.
This reinstatement of the mining licences paves the way for Jubilee
in partnership with BMR Group PLC to commence with the joint
execution of the project.
Leon Coetzer, Chief Executive commented:
"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.
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 Project and we are confident that the time lines
specified under the reinstatement conditions of the licence can be
met. "
The 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 3
months of the reinstatement of the licence with commissioning
commencing by 30 September 2018 and the first production due by 30
December 2018.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
United Kingdom
5 April 2018
Contacts
Jubilee Metals Group PLC
Colin Bird/Leon Coetzer
Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913
Andrew Sarosi
Tel +44 (0) 1752 221937
Nominated Adviser
SPARK Advisory Partners Limited
Mark Brady/Andrew Emmott
Tel: +44 (0) 203 368 3555
Broker
Shard Capital Partners LLP
Damon Heath/Erik Woolgar
Tel +44 (0) 20 7 186 9900
JSE Sponsor
Sasfin Capital, (a member of the Sasfin group)
Sharon Owens
Tel +27 (0) 11 809 7500
This information is provided by RNS
The company news service from the London Stock Exchange
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