https://www.miningweekly.com
Africa|Financial|Mining|Operations
Africa|Financial|Mining|Operations
africa|financial|mining|operations

Tshipi declares R330m interim dividend

3rd September 2020

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

The board of Tshipi é Ntle Manganese Mining has declared a dividend of R330-million for the first half of the 2021 financial year.

ASX-listed Jupiter Mines, which holds 49.9% of Tshipi, will receive R156-million of the dividend. It will also recover R25-million in marketing profits.

Despite the Covid-19 lockdown period in South Africa, which resulted in decreased production and depressed manganese prices, Tshipi remained profitable and maintained a healthy positive cashflow, notes Jupiter.

It adds that this dividend demonstrates the strength of Tshipi’s low-cost operations throughout the cycle.

The amount of the divided was indicated as prudent, with sufficient cash being retained for working capital, for possible capital expenditure relating to the proposed ramp-up study and to mitigate the continuing challenges in the markets.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 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
PLUS
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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.188 0.226s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: