Jupiter overcomes third-quarter challenges that dented production, sales

21st December 2022

By: Donna Slater

Features Deputy Editor and Chief Photographer


Font size: - +

Several issues, including contractor drill rigs and a strike by employees of South African rail and ports operator Transnet, negatively impacted on the production of ASX-listed Jupiter Mines’ Tshipi é Ntle Manganese Mining subsidiary in the quarter ended November 30.

Tshipi é Ntle's Tshipi Borwa manganese mine in South Africa produced 12% less quarter-on-quarter at 748 000 t, as a result of contractor drill rig availability challenges – an issue that has now been resolved.

In terms of tonnes sold, the miner was negatively impacted on by a strike by Transnet employees, resulting in a 16% decline quarter-on-quarter to 781 000 t sold. However, the issue of the strike by Transnet has also now been resolved.

For the three months under review, Jupiter reported earnings before interest, taxes, depreciation and amortisation of A$47.5-million, down from the A$87.7-million of the second quarter; and a net profit after-tax of A$30.2-million, down from the A$54.9-million of the quarter prior.

The earnings decrease was a result of lower sales volumes quarter-on-quarter and a lower manganese price in the period under review.

Total mined volumes from Tshipi in the period were 2.22-million cubic metres, marginally down from the 2.29-million cubic metres of the quarter prior.

Despite challenges, Jupiter reports that Tshipi is on track to achieve 3.4-million tonnes a year of high-grade ore sales for the 2023 financial year – setting a record level for the mine.

Jupiter has noted an improvement in manganese demand in China – the main manganese ore consuming region – during the first half of December, following regional governments adjustments to previously implemented Covid-19 related restrictions.

In addition, buoyant liquidity on the portside market has also been spurred by restocking from alloy plants ahead of the Lunar New Year holiday, which starts in mid-January 2023.

These factors, highlights Jupiter, have resulted in a slight recovery in manganese ore prices in Deecember.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online



Magni SA
Magni SA

Magni SA is committed to developing the safest Telehandlers available to our customers for underground and surface mining, construction, forestry,...


GreaseMax is a chemically operated automatic lubricator.


Latest Multimedia

sponsored by

Magazine round up | 23 February 2024
Magazine round up | 23 February 2024
23rd February 2024
Resources Watch
Resources Watch
21st February 2024
Photo of Martin Creamer
Major hydrogen economy developments in SA
21st February 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.14 0.176s - 89pq - 2rq
Subscribe Now