Jubilee Metals secures deal on large waste project

Jubilee Metals Group PLC (JLP.JO) announced it has secured exclusive rights to acquire the Large Waste Project, which aims to reprocess waste materials in Zambia and South Africa. The consideration for the acquisition has been reduced to US$18 million with a deadline for election to acquire the assets by mid-May 2025. The remaining US$11.5 million of consideration will be settled over 12 months. The company also entered into an agreement to sell 10 million tonnes of material from the project to a multinational metals company for an estimated US$6.75 million. The trade is expected to offer insight into processing performance ahead of Jubilee's potential future operations. Jubilee continues to see momentum in its copper strategy, with the Large Waste Project offering significant expansion potential.