ASX-listed Jupiter Mines and Tshipi é Ntle Manganese Mining, in which Jupiter holds a 49.9% interest, both remained cash positive and profitable for the financial year ended February 28, despite many challenges.
Tshipi operates the Tshipi Borwa manganese mine in South Africa.
For the full-year, Tshipi produced and exported 3.35-million and 3.42-million tonnes of manganese, respectively, despite the restrictions and uncertainties surrounding the Covid-19 pandemic, Jupiter reports.
Moreover, it says that, despite these conditions, Tshipi achieved its second-highest export volumes on record.
However, global manganese prices remained depressed, averaging $3.82 per dry metric tonne compared with $4.18 in the 2020 financial year.
For the 2021 full-year, Tshipi distributed R1.43-billion in dividends.