SMM7, 15 March -: Jubilee metals Group confirmed on Thursday that it had completed the acquisition of Zambia's Sable Zinc Refinery at a cost of £9.2 million with the consent of the Zambian Competition and Consumer Protection Commission (Zambian Competition and Consumer Protection Commission,ZCCPC).
Jubilee acquired the zinc refinery from Glencore (Glencore) and the final procedures, including refinery transfer and equity transfer, will be completed by the end of the month.
Leon Coetzer, the company's chief executive, said the first phase of the project was aimed at producing vanadium pentoxide and zinc concentrate, and the second phase began refining zinc.
The company says production is expected to begin within four months after the first phase of the project.
At present, the company plans to start upgrading the refineries to prepare for the treatment of metals such as lead, zinc and vanadium.
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