Tshipi declares R1.1-billion final dividend

18th February 2021

By: Donna Slater

Features Deputy Editor and Chief Photographer

     

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ASX-listed Jupiter Mines, which has a 49.9% interest in Tshipi é Ntle Manganese Mining, reports that Tshipi has declared a final dividend to its shareholders of R1.1-billion for its 2021 financial year.

As such, Jupiter will receive R521.5-million in addition to R30.6-million in marketing profits.

Throughout the uncertainty caused by the Covid-19 pandemic, mining challenges, excessive rain and depressed manganese prices, Tshipi has demonstrated its ability to continue to remain profitable and cash positive, Jupiter stated in a press release issued on February 18.

Tshipi will end the 2021 financial year, post the dividend payment, with about R657-million cash at bank.

The company has distributed R9.26-billion to its shareholders over the past five years against the mine’s construction costs of about R2-billion.

Tshipi’s board will consider the dividend to Jupiter shareholders along with its full-year results, and will make any final dividend declaration for the 2021 financial year in line with the reporting timeframe.

Meanwhile, the company notes that it is yet to make a decision regarding the expansion study of the Tshipi Borwa mine, in light of further areas of the study to be explored.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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