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Africa|Financial|generation|Mining|Projects|Operations
Africa|Financial|generation|Mining|Projects|Operations
africa|financial|generation|mining|projects|operations

Tshipi increases half-year dividend to R1.7bn

6th September 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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Manganese ore producer Tshipi é Ntle Manganese Mining, which operates the the Tshipi Borwa mine, in South Africa’s Northern Cape province, has resolved to pay a further dividend of R600-million to its shareholders, taking the total dividend for the first half of 2020 financial year to R1.7-billion.

The increased dividend, which is higher than previously estimated, is mainly owing to additional low-grade product sold in the second quarter of the financial year and currency depreciation.

ASX-listed Jupiter Mines, which owns a 49.9% interest in Tshipi é Ntle, will, in addition to its share of the dividend, also receive R30-million from its South African marketing operations.

Jupiter will make its dividend declaration for the same period following the release of its half-year financial statements at the end of October.

Meanwhile, Jupiter CEO Priyank Thapliyal says Tshipi é Ntle’s first-half dividend equates to more than 85% of the R2-billion in capital expenditure invested at the Tshipi Borwa mine.

“Such . . . returns on projects are unprecedented and demonstrates the substantial cash generation potential of Tshipi throughout the cycle owing to its enviable position on production scale, operating costs and mine life.”

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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