Latest news with #ProjectG
IOL News
4 days ago
- Business
- IOL News
Jubilee Metals' Roan copper concentrator in Zambia achieves operational success
Jubilee Metals, diversified metals producer with operations in South Africa and Zambia, has full re-startedoperations at its Roan project in Zambia. Image: Supplied Jubilee Metals Group's Roan copper concentrator in Zambia is fully operational following an upgrade, exceeding July's targeted production by reaching 384 tons of copper units. The mining group, which aims to become a significant copper explorer, miner, and producer of concentrates and refined cathodes in Zambia, stated in an update on Wednesday that Roan's production in August was already above the targeted production rate of 350 tons. The Roan project, first announced by Jubilee in 2021 and upgraded in phases, is the cornerstone of the company's copper production ambitions alongside the Sable refinery. Jubilee is currently disposing of its South Africa-based chrome and platinum operations, with agreements in final form, and a shareholders' meeting is being scheduled soon. Jubilee's share price sank 5.4% to 70 cents on the JSE on Wednesday afternoon. 'I am pleased to report significant progress across our Zambia portfolio, which has all the assets we need to maintain momentum on our copper expansion strategy,' said Jubilee's CEO Leon Coetzee in a statement. He said that they were building a robust copper production profile by dedicating processing capacity at Roan to a combination of third-party sourced mined material and process tailings, while advancing the Munkoyo and Project G mining operations to feed an expanded Sable refinery. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading In addition, the Large Waste project is forging ahead, and the group's copper exploration footprint is being expanded. The Munkoyo and Project G mines are being developed to be the anchor source of copper material for cathode production at Sable. Further large-scale exploration properties have been secured, Coetzee said. Munkoyo consists of a series of nine open-pits, and resource drilling is underway to establish the potential of combining these pits into one large open-pit operation. The Large Waste tailings dump is understood to contain over 240 million tons. A review of the total surface stock portfolio was done. A monetisation program is underway to sell the lowest-ranking non-core tailings assets, with about an $18 million deal value already transacted over the past six months. Munkoyo's open-pit operation's drilling program has started, with an initial eight holes completed in partnership with a mining and exploration company. Drilling results are being reviewed, and early indications suggest potential to combine pits 2 to 4 into a single large open pit to offer increased mining flexibility and throughput. Discussions are in progress with a partner to further expanded Munkoyo and develop Project G while undertaking an exploration program of the new exploration properties. Jubilee's copper production for the first half was impacted by power and infrastructure challenges, and Roan was placed under care and maintenance. Following a successful Roan restart, copper unit production reached 757 tons in the second half, with annual production reaching 2 211 tons versus the guidance for the 2026 financial year of 5 100 tons. Further capital-dependent projects either underway or targeted to start next year could potentially increase annual copper production by about 10,000 tons. Coetzee stated that the energy-related challenges faced earlier this year helped them emerge with a clearer, more focused strategy backed by secure power supply and higher-value material supply agreements. Sable is undergoing an expansion to offer an annual processing capacity of about 14 000 tons of copper units upon completion, which is anticipated in the first quarter of next year. Mining at Munkoyo was temporarily halted for July and August 2025 while the extended pit design was completed based on the drilling results, and ore delivery to Sable is set to recommence in September 2025. On the Large Waste project, Jubilee plans to roll out a series of 25,000 tons per month modular processing units on-site, based on the design at Roan. BUSINESS REPORT
IOL News
28-05-2025
- Business
- IOL News
Jubilee Metals advances Zambian sopper strategy with successful Roan trials
Jubilee Metals Group, a diversified metals producer with operations in South Africa and Zambia, on Wednesday said it has successfully completed extensive processing trials at its Roan Concentrator, securing a long-term feedstock supply agreement that commenced production this week. party run-of-mine (ROM) purchases. Jubilee Metals Group, a diversified metals producer with operations in South Africa and Zambia, on Wednesday said it has successfully completed extensive processing trials at its Roan Concentrator, securing a long-term feedstock supply agreement that commenced production this week. This milestone strengthens Jubilee's copper production profile and supports its ambition to capitalize on rising copper prices. The Roan trials demonstrated Jubilee's ability to process high-grade shallow transitional copper reefs, previously considered waste or too complex by other operators. Achieving copper yields of approximately 65% and a minimum grade of 1.4% Cu, the trials confirm Roan's capacity to handle 35 000 to 40 000 tonnes per month (tpm) of run-of-mine (ROM) material, producing 240 to 360 tpm of copper units. These results bolster confidence in Jubilee's Large Waste Project, which holds an estimated 260 million tonnes of similar transitional copper ore at surface. At its Munkoyo mining operations, Jubilee is maintaining a mining rate of 80 000 tpm, with 3 500 tpm of high-grade ROM (exceeding 2.5% Cu) delivered to the Sable Refinery, equivalent to 88 tpm of copper units. The company aims to increase this to 4 500 tpm (112 tpm copper units) by June 2025 and 8 500 tpm (212 tpm copper units) by October 2025. Lower-grade material (0.7% Cu) is stockpiled for future processing, with pilot trials underway for two 30,000 tpm modular processing units targeting 350 tpm of copper units by Q1 2026. Jubilee is also advancing Project G, with resource drilling set for June 2025 to support an open-pit expansion. The company has secured exclusive due diligence rights for two additional near-surface mining properties, reinforcing its growth strategy. Additionally, Jubilee completed a $12.3 million (R220m) sale of a non-core waste asset, payable over 20 months, and initiated a $6.75m trade of 10 million tonnes from its Large Waste Project, with initial payments received. CEO Leon Coetzer said, 'Our focus on transitional copper reefs, available in vast quantities, positions us to benefit from appreciating copper prices. The Roan trials have validated our processing capabilities, and with secure power and supply agreements, we are poised for stable growth.' The Sable Refinery expansion, delayed to prioritise mining and trials, is scheduled for completion in quarter one 2026, increasing capacity to 14 000 tonnes per annum to accommodate production from Munkoyo, Project G, and other opportunities. Combined high-grade ROM from Roan and Munkoyo is expected to yield 288 tpm of copper units by June 2025, rising to 400 tpm by August and potentially 500-550 tpm by October. Jubilee also announced the issuance of 5.96 million new shares to former chairperson Colin Bird to settle a £200 000 (R4.8 million) performance incentive, with shares locked for 12 months. The shares will be admitted to trading on AIM and JSE's Altx on or around June 3, 2025, increasing total issued capital to 3.07 billion shares. Jubilee has also entered into negotiations with various parties to potentially invest into the construction of the targeted modular processing units for the Large Waste Project. "The targeted companies offer more attractive investment terms under a partnership agreement approach than offered previously by the Abu Dhabi-based invest firm, which is preferred by Jubilee and is also non-dilutive for shareholders. Discussions over funding for processing plants on site at the Company's mining projects, also extend to the Large Waste Project," it said. The share price was up 1.01% at R1 at midday on the JSE on Wednesday. BUSINESS REPORT
Yahoo
26-02-2025
- Entertainment
- Yahoo
More Silent Hill Remakes Rumored as Konami, Bloober Team Enter New Partnership
Horror game studio and announced today they will continue collaborating thanks to the success of the Silent Hill 2 remake. While not a lot of information regarding the project is known, many fans are theorizing more remakes from the beloved survival horror franchise may be on the way. The Bloober Team announcement does not share what their next project with Konami is, but does say the studio is 'confident' fans will be excited when it gets announced 'when the time is right.' 'Our collaboration with KONAMI has been incredibly fruitful, and the success of SILENT HILL 2 speaks for itself,' reads the announcement. 'By sharing knowledge and experience, we have been able to create high-quality production together. Of course, we can't reveal too many details at this time, but we are confident that fans will be just as excited about our collaboration as we are. We can't wait to share something truly special with players when the time is right.' In another version of the Bloober Team and Konami announcement, a bit more information is divulged, which has led to some speculation regarding its upcoming project. 'The Management Board of Bloober Team SA with its registered office in Kraków (hereinafter referred to as the 'Issuer') hereby announces that on February 25, 2025, it concluded a material agreement with Konami Digital Entertainment Co., Ltd, with its registered office in Tokyo, Japan (hereinafter referred to as 'KONAMI'), concerning the production of a game by the Issuer for the PC, PS5 and Xbox X/S platforms, based on IP belonging to KONAMI, under the code name Project 'G',' reads the report. Project G was already a known project coming from Bloober Team as it was first mentioned by the developer back in 2023 when it was in its concept phase, but it is now officially a collaboration with Konami. The other project that was announced alongside Project G was Project H, which is also being done internally by the studio. Considering Konami and Bloober Team are now extending its partnership following the success of the Silent Hill 2 remake, fans are speculating that Project G and H are Silent Hill 1 and Silent Hill 3 remakes. A Reddit thread from Resistance Evermore points out that both these projects were announced at the same time and are developed internally. It adds that these are the only Bloober Team projects that are in alphabetical order. With Silent Hill 1 and Silent Hill 3 being connected, it could be both projects were greenlit at the same time, with Project G being the first entry and Project H being the third entry. There is another interesting tidbit about the project names. Within the same thread, Reddit user Mr_Nobody0 suggests each letter of the project is tied to a major character from Silent Hill 1 and Silent Hill 3. Specifically, the G represents Gillespie from the first game and the H represents Heather from the third game. We'll just have to wait until Bloober Team and Konami reveal their next game in the future to be sure. The post More Silent Hill Remakes Rumored as Konami, Bloober Team Enter New Partnership appeared first on PlayStation LifeStyle.
