Tshipi declares R1.1bn H2 dividend
Jupiter Mines on Monday announced that the board of Tshipi é Ntle Manganese Mining has resolved to distribute a R1.1-billion dividend to its shareholders for the second half of the 2019 financial year.
Tshipi has distributed R3.2-billion in dividends for the full financial year.
ASX-listed Jupiter, which holds a 49.9% interest in the Tshipi mine through its Jupiter Kalahari subsidiary, will receive R521-million from Tshipi, net of withholding taxes, and about R36-million from its marketing entity for the second half of the financial year.
Tshipi aims to again sell about three-million tonnes of high-grade ore for the 2020 financial year, complemented by low-grade ore when available.
With a 100-year life, Tshipi’s management will begin evaluating growth scenarios to increase production up to the mine’s load out infrastructure capacity of five-million tonnes a year and higher over the medium term.
The remaining 50.1% in Tshipi is owned by Main Street 774, which is, in turn, owned by Ntsimbintle Holdings (74%) and OM Holdings (26%).
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