Jubilee Metals Secures Three-Year Power Supply Agreement to Boost Copper Production in Zambia

Jubilee Metals has entered into a three-year renewable power purchase agreement with Lunsemfwa Hydro Power, a key independent hydro and solar power producer in Zambia, to ensure a consistent and reliable power supply for its copper production operations at Roan and Sable, starting September 1. This agreement is crucial for Jubilee as it navigates the ongoing power shortages in the region.

The deal not only guarantees the energy needed for Jubilee's current operations but also includes the option to access an additional 10MW of solar power at a rate that is over 30% lower than the original terms. This additional capacity will be instrumental in supporting Jubilee's goal of processing 25,000 tonnes of copper annually.

The agreement is one of the first to capitalize on Zambia's new Open Access regime, approved by the government on June 10, which allows private entities to utilize the country's electricity transmission and distribution infrastructure. This policy shift is a significant advancement for Zambia's power sector, enabling companies like Jubilee and Lunsemfwa to enhance their operations. The solar and hydro-storage facility associated with this agreement is expected to become operational within the next 12 months, further supporting Jubilee’s expansion plans at its Roan and Sable sites.

Earlier in August, Jubilee announced that its upgraded Roan project in Ndola had begun operations, increasing its copper production capacity to 13,000 tonnes per annum. This upgrade is a critical part of Jubilee's broader strategy to achieve a total processing capacity of 25,000 tonnes of copper annually by the next year. With both Roan and Sable functioning independently, Jubilee is on track to meet its ambitious production targets.