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Preferred Purchaser Selected for Large Waste Project
Jubilee Metals Group PLC
Registration number:
AIM share code: JLP
Altx share code: JBL
ISIN: GB0031852162
(‘Jubilee’ or ‘the Company’ or ‘the Group’)
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Preferred Purchaser Selected for US$35 Million Large Waste Project Sale
Jubilee, the integrated copper producer and resource developer in Zambia, is pleased to announce that,
following the receipt of two binding offers for the acquisition of the Company's Large Waste Project (LWP), as
announced on 10 August 2026, it has selected its preferred purchaser for a total acquisition consideration of
US$35.0 million.
This capital allocation strategy supports Jubilee's continued evolution from a predominantly processing-led
business into an integrated copper mining and processing company. While Jubilee's established processing
capability remains fundamental to the business and its valuation, the Group is increasingly focused on building
value through Jubilee-controlled mining assets and, as these are defined through ongoing exploration and
resource development programmes, its underlying copper resource base.
The combination of Jubilee's established processing infrastructure with increased control over its own copper-
bearing feed and the development of a defined resource base is expected to broaden the foundations on which
the Group's longer-term value is built.
Disposal of the Large Waste Project
The monetising of the LWP at a substantial premium to the original acquisition price, represents a further step
in Jubilee's strategy to optimise its asset portfolio and prioritise capital allocation towards the expansion of its
existing mining, processing and refining operations in Zambia. These operations offer a lower-capital and lower-
execution-risk pathway to increasing copper production by leveraging Jubilee's established infrastructure and
operating capability. Conversely, the LWP is a large-scale, greenfield development project which would have
required significant standalone capital investment. Management are focused on lower risked opportunities.
The preferred purchaser has offered a total acquisition consideration of US$35.0 million for the LWP. The
transaction will proceed through a two-stage due diligence process. The first stage will focus on confirmation of
the contractual and regulatory legal framework governing the LWP and is expected to be completed within
approximately 10 days. Subject to satisfactory completion of this first stage, the preferred purchaser will make
a payment of US$2.25 million to secure a further 45-day period of exclusivity during which it will complete its
remaining due diligence. Following satisfactory completion of the due diligence process and execution of the
definitive transaction documentation, the balance of the US$35.0 million acquisition consideration will be
settled over an agreed three-year instalment period. The transaction terms also provide the purchaser with the
option to accelerate settlement of the outstanding consideration to within two years, in return for an agreed
reduction in the total consideration payable to US$30.0 million. Management has satisfied themselves over the
ability of the preferred purchaser to pay the consideration.
The transaction incorporates and replaces the previously announced sale of 10Mt of waste material from the
LWP for a total consideration of US$6.75 million. To date, approximately 550 000t have been collected, resulting
in payments to Jubilee of approximately US$0.6 million. The Company will provide further details as the
transaction progresses through the remaining due diligence and documentation process.
26 August 2026
For further information contact:
Jubilee Metals Group PLC
Leon Coetzer (CEO)/Jonathan Morley-Kirk (FD)
Tel: +27 (0) 11 465 1913 / Tel: +44 (0) 7797 775546
Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/James Keeshan
Tel: +44 (0) 20 3368 3555
PR & IR Adviser - Tavistock
Jos Simson/Gareth Tredway
Tel: +44 (0) 207 920 3150
Joint Broker - Zeus Capital
Harry Ansell/Katy Mitchell
Tel: +44 (0) 207 920 3150
Joint Broker - Shard Capital Partners LLP
Erik Woolgar/Gareth Burchell
Tel +44 (0) 207 1869900
JSE Sponsor - Questco Corporate Advisory Proprietary Limited
Alison McLaren
Tel: +27 (0) 78 286 9556
About Jubilee Metals Group
Jubilee Metals, listed on AIM and the Altx of the JSE, is a copper producer and resource developer
focused on building a world-class integrated copper business in Zambia. The Company's three-pillar
strategy combines the processing of third-party copper feedstock through its Roan Concentrator; the
development of an integrated mine-to-metals business through Jubilee-controlled mining assets and
the Sable Refinery; and the active management and monetisation of non-core assets to unlock value
and support investment into the Group's core operations. Jubilee is evolving from a predominantly
processing-led business towards an integrated copper mining and processing company, leveraging its
established processing and refining infrastructure alongside an expanding portfolio of controlled
mining assets. As Jubilee advances its exploration and resource development programmes, the Group
is focused on building a resource-backed production platform capable of supporting scalable, long-
term copper growth.
For further information, please visit www.jubileemetalsgroup.com and follow Jubilee on X at
@Jubilee_Metals
Date: 26/08/2026 06:00:00
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