Friday, September 17, 2021

Tshipi declares R88m interim distribution - Creamer Media's Mining Weekly

Last updated Thursday, September 9, 2021 04:42 ET , Source: NewsService

ASX-listed Jupiter Mines has advised that the board of Tshipi é Ntle Manganese Mining has declared a dividend of R88-million for the first half of the 2022 financial year, of which R41.7-million is due to Jupiter.

Jupiter says it will also receive R33-million in marketing profits.

The Tshipi dividend was modest, explains Jupiter, given sustained depressed manganese prices and significant increases in shipping rates.

The company plans on retaining R517-million for its cash floor and working capital outflow, and spend a further R82-million in capital expenditure in the remainder of the financial year.

Tshipi operates the Borwa mine, in the Kalahari Manganese Field of South Africa’s Northern Cape province.

Jupiter effectively has a 49.9% shareholding in Tshipi.

Read Full Story: https://www.miningweekly.com/article/tshipi-declares-r88m-interim-distribution-2021-09-09

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