Modern Mining March 2025

MINING NEWS

Additional power supply secured for Roan to re-start Jubilee, a diversified metals producer with operations in South Africa and

Zambia, recently received approval for its new power supply agreement in Zambia - power delivery commenced on 20 January 2025. This enables the company to restart the Roan concentrator and ensures a stable power supply going forward. The additional power supply agreement, executed with a new broad based power provider, secures access to a distributed power base from multiple sources of generation, minimising the reliance on a single supply source and mitigates risks associated with localised power network distribution limitations. The power supply has been delivered at a cost comparable to the company’s existing power agreement, offering both economic and operational stability. Says Leon Coetzer, Jubilee CEO: “The Jubilee team demonstrated great resilience in overcoming the recent power challenges at its Zambian operations. The

Jubilee Metals is set to restart its Roan concentrator at its project in Zambia.

now turn our attention to preparing the plant for re-start and remain focused on delivering reliable production and operational resilience.” n

commencement of the additional power supply successfully addresses current power supply limitations that affected Roan’s ability to operate historically. We

Hummingbird signs Mali Protocol

The agreement includes a settlement payment totalling FCFA 10 billion (about $16.4 million), payable in two equal instalments of FCFA 5 billion each, with the first payment due within five working days of signing and the second payment by 30 June 2025. Additionally, the company has agreed to waive historical VAT credit claims in the sum of FCFA 10 billion, collectively settling all tax and customs matters prior to 31 December 2023. Under the agreement, the company commits to providing a comprehensive operating plan, addressing capital investments required to maximise current production and extend Yanfolila’s mine life. The state has confirmed its commitment to renew key exploration permits, alongside approving an extension to the Komana Mining Permit perimeter, supporting the company’s broader strategy in Mali. In additionally, the Government of Mali has exercised its option to increase its ownership in SMK to 20%, with immediate effect, from the 10% the state currently holds. n

Hummingbird Resources signs Mali Protocol.

Key terms include Yanfolila’s migration to Mali’s 2023 Mining Code with the Mali State granting a 2% reduction on the Special Tax on Certain Products rate (ISCP) for the duration of the new establishment agreement.

AIM-listed Hummingbird Resource’s subsidiary, Société des Mines de Komana SA (SMK), recently reached agreement with the Government of Mali regarding application of the 2023 Mining Code for its Yanfolila Gold Mine.

6  MODERN MINING  www.modernminingmagazine.co.za | MARCH 2025