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Jubilee Metals Group PLC - London-based metal processing company, with projects in South Africa and Zambia - Signs a three-year renewable power purchase agreement with Lunsemfwa Hydro Power Co. Lunsemfwa is an independent hydro and solar power producer in Zambia. The power purchase agreement ensures that the total power supply needs of both Roan and Sable will be continuously met at competitive rates to the prevailing power tariffs, Jubliee says.
Chief Executive Leon Coetzer says: ‘The successful implementation of the private power purchase agreement is a critical step towards securing a reliable and continuous power supply for our operations and addresses the current shortage of power experienced. This comes at a critical time as we step up the production at our Roan and Sable operations and look to further expand our operational footprint. Our Roan operation has been impacted by power shortages, which is comprehensively addressed by this agreement.’
Current share price: 5.63 pence, down 0.5% in London on Tuesday
12-month change: down 23%
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