Zambia Says Jubilee Is in Talks to Buy Chambishi Copper Plant

Jubilee Metals Group is in talks to buy a mothballed Zambian copper-cobalt refinery from Eurasian Resources Group Sarl, according to the southern African country’s mining minister.

Operations at the facility owned by ERG’s Chambishi Metals subsidiary were suspended in early 2020, after the Luxembourg-registered group said it couldn’t supply enough feedstock to run the plant. London-listed Jubilee Metals is currently expanding its presence in Zambia.

Negotiations between the two firms “are so advanced that I’m expecting that beginning this week they may give me an update on where we are in terms of those discussions around Chambishi Metals,” Zambian Mines ...