Galileo Resources and Jubilee Metals Join Forces to Advance Molefe Copper Project in Zambia

Galileo Resources’ decision to enter a conditional collaboration agreement with Jubilee Metals Group marks an important strategic development for the Molefe copper project in Zambia. This partnership is designed to combine financial resources, technical expertise and operational experience in order to accelerate the exploration and development of a region that shows clear potential for small to medium scale copper production. At a time when copper demand across Africa continues to rise due to infrastructure expansion and clean energy technologies, the alliance provides a structured framework to unlock value from a project that is already demonstrating strong operational momentum.

Under the terms of the agreement, Galileo will contribute 700,000 United States dollars to an exploration and resource drilling programme, a commitment that enables the company to earn up to a 23.75 percent stake in the project holding entity. Jubilee Metals will retain a dominant 71.25 percent interest, while a local Zambian partner maintains a 5 percent share, ensuring domestic participation in the project’s long term growth. By jointly targeting smaller copper opportunities that have progressed beyond preliminary stages, the collaboration aims to bridge the gap between promising geological concepts and commercially viable operations. The ramp up of the Molefe Mine, which is moving toward a production rate of 4,500 tonnes per month of high grade copper ore, reinforces the site’s near term potential. Additionally, approximately 2.2 million tonnes of lower grade material has already been stockpiled, indicating a substantial feed source for future processing.

To accommodate rising ore volumes, plans are advancing for the construction of a dedicated processing facility that will integrate feed from both high grade production and existing stockpiles. Governance of the project will be managed through a joint executive committee and board, allowing for coordinated decision making and transparent oversight. Jubilee’s historical investments into the Molefe project will be recognized as a capital loan, granting the company preferential earnings once production revenues commence. Meanwhile, ongoing drilling and resource definition work are expected to enhance geological confidence, support optimized pit design and refine long term mine planning. These efforts collectively strengthen the foundation for a scalable operation capable of delivering sustained copper output.

In broader economic terms, the collaboration between Galileo and Jubilee positions the Molefe project as a significant contributor to Zambia’s copper driven economy. By expanding exploration capacity, accelerating development timelines and improving processing readiness, the partnership could support increased copper supply at a time when the regional market is tightening. The project’s progress may also stimulate further investment interest in Zambia’s small to mid tier copper space and reinforce Africa’s role in meeting global demand for critical minerals.

Mini Glossary

• Stake: The percentage of ownership a company holds in a project or subsidiary.
• High grade ore: Ore that contains a high concentration of the target metal, making it more valuable and economical to mine.
• Stockpile: Accumulated material stored on site for future processing.
• Processing facility: A plant where ore is crushed, treated and refined to extract valuable metals.
• Capital loan: A financial arrangement where past expenditures are treated as a loan that is repaid with priority earnings.
• Pit design: The engineering process of planning the shape and depth of an open pit mine.
• Resource confidence: The level of certainty in the estimated quantity and quality of mineral resources.