British metals recovery company Jubilee Metals has inked a share purchase agreement for the purchase of the Sable Zinc refinery in Kabwe, Zambia.
The Sable Zinc refinery is located immediately adjacent to the large stockpiles of zinc, lead and vanadium that Jubilee has contracted from BMR Group.
The company is buying Sable Zinc from two subsidiaries of Swiss commodity trading and mining company Glencore for a consideration of $12 million.
The zinc refinery project targets an initial processing rate of 20 tonnes per hour, producing a zinc concentrate and vanadium pentoxide, before boosting it to a targeted rate of 40 tonnes per hour, producing zinc metal, vanadium pentoxide and a lead concentrate.