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Tshipi mine on track to meet three-million-tonne sales target

31st May 2019

By: Marleny Arnoldi

Online News Editor

     

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ASX-listed Jupiter Mines says the Tshipi mine, in South Africa, owned by its 49.9%-held subsidiary, Tshipi é Ntle Manganese Mining, is on track to deliver on its three-million-tonne sales target for the 2020 financial year.

The company remains focused on cost control, with free-on-board production costs averaging R31.04 per dry metric tonne unit so far this year.

T

he Tshipi board has resolved to pay out R1.15-billion to shareholders at the end of June.

Jupiter expects to make a healthy half-year distribution to its shareholders for the 2020 financial year in November.

Mining Weekly previously reported that Jupiter had announced a final unfranked dividend of 2.5c per share, amounting to a 24% yield on its first year of listing on the ASX. It listed on the stock exchange in April 2018.

“Jupiter continues to deliver healthy returns. The yield on distributions by Jupiter since the 2017 financial year is unprecedented in the mining industry, with the dividend yield for the 2019 financial year being about 24%,” CEO PriyankThapliyal said at the time.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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