Join our daily newsletter At The Bell to receive exclusive market insights
- Jupiter Mines’ (JMS) investee Tshipi é Ntle Manganese Mining has declared a final dividend to shareholders of ZAR500 million (A$46.2 million) for the second half of FY22
- Jupiter owns a 49.9 per cent interest in the South African manganese producer through its Australian subsidiary Jupiter Kalahari
- JMS will receive ZAR237 million (A$21.9 million) in dividends as well as ZAR30 million (A$2.8 million) in marketing profits for the six months ending February 28, 2022
- Tshipi é Ntle owns and operates the Tshipi Borwa Manganese Mine in South Africa’s Kalahari Manganese Field which contains most of the world’s manganese resources
- Jupiter shares are trading flat at 21.5 cents
Jupiter Mines (JMS) has announced Tshipi é Ntle Manganese Mining will be paying a final dividend to shareholders for the second half of FY22.
Jupiter Mines owns a 49.9 per cent beneficial interest in the South African miner through its wholly-owned subsidiary Jupiter Kalahari.
For the six months ended February 28 2022, Tshipi é Ntle has declared to pay ZAR500 million (A$46.2 million). Jupiter will receive ZAR237 million (A$21.9 million) as well as ZAR30 million (A$2.8 million) in marketing profits.
The Tshipi é Ntle Board will consider the dividend to Jupiter shareholders in due course, along with the full-year results for the 2022 financial year.
Tshipi owns and operates the Tshipi Borwa Manganese Mine which is located in the Kalahari Manganese Field (KMF) within the Northern Cape, South Africa. Significantly, around 80 per cent of the world’s known economic manganese resources are contained in the KMF.
Since producing and exporting manganese ore since December 2012, the mine has become one of the largest and lowest-cost manganese exporters globally.
According to Tshipi é Ntle, its namesake mine will have exported 3.34 million tonnes of manganese ore for FY22 and the company expects to round off the financial year with a healthy cash balance of ZAR1 billion (A$92.4 million), prior to the dividend payment.
The leftover cash will be used for working capital and capex for the upcoming 2023 financial year.
Jupiter shares were trading flat at 21.5 cents at 11:50 am AEDT.
