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Source: Jupiter Mines LinkedIn
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  • Jupiter Mines (JMS) has released its latest quarterly report, revealing the Tshipi Borwa Manganese Mine achieved its second-highest year of exports
  • Shipping volumes from Tshipi reached 3.417 million tonnes at the end of FY21, making it one of South Africa’s largest exporter of manganese ore
  • The company has a 49.9 per cent stake in the project’s operator, and Tshipi shareholders collectively received ZAR1.1 billion (about A$96 million) in second-half dividends
  • Jupiter also spent much of the quarter focused on the demerger of its iron ore assets into a new company, known as Juno Minerals
  • The materials stock has $88 million in attributable cash at the end of February, including its stake in Tshipi
  • Shares in Jupiter Mines are trading steady at 30 cents per share

Jupiter Mines (JMS) has released its latest quarterly report, revealing the Tshipi Borwa Manganese Mine achieved its second-highest year of exports.

The company has a 49.9 per cent stake in the project’s operator, Tshipi é Ntle Manganese Mining.

Shipping volumes from Tshipi reached 3.417 million tonnes at the end of FY21, making it one of South Africa’s largest exporters of manganese ore.

But, JMS reports mining for the quarter was also adversely affected by excessive rainfall with graded ore volumes also affected.

Unaudited sales revenue from the mine totalled $496.7 million at the end of FY21, while the company’s net profit after tax totalled $134.9 million.

Jupiter reported Tshipi shareholders were paid out a combined ZAR1.1 billion (about A$96 million) in second-half dividends during the quarter.

The dividend share also pushed Jupiter’s net consolidated cash balance from $27.9 million to $65.6 million during the quarter.

In total, the materials stock ended February with $88 million in attributable cash, including its stake in Tshipi.

Meanwhile, the company has revealed its planned demerger of its iron ore assets into a new company is progressing well.

Jupiter is hoping to have the new business, Juno Minerals, up and running by mid-May this year.

Shares in Jupiter Mines are trading steady at 30 cents per share at 12:06 pm AEDT.

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