Tshipi mine on track to meet three-million-tonne sales target
ASX-listed Jupiter Mines says its 49.9%-owned subsidiary Tshipi é Ntle Manganese Mining’s Tshipi Borwa mine in South Africa, is on track to deliver on its three-million-tonne sales target for the 2020 financial year.
The company remains focused on cost control, with free-on-board production costs averaging at R31.04, or $2.18, per dry metric tonne unit, so far, this year.
Consequently, the Tshipi board has resolved to pay out R1.15-billion, or A$116-million, to shareholders at the end of June.
Jupiter, therefore, expects to make a healthy half-year distribution for the 2020 financial year to its shareholders in November, in line with double-digit yields.
Mining Weekly Online previously reported that Jupiter had announced a final unfranked dividend of 2.5c a share, amounting to a 24% yield on its first year of listing on the ASX. The company listed on the stock exchange in April 2018.
“Jupiter continues to deliver healthy returns. The yield on distributions by Jupiter since the 2017 financial year is unprecedented in the mining industry, with the dividend yield for the 2019 financial year being about 24%,” CEO Priyank Thapliyal said at the time.
“Over the last three years, A$300-million has been paid out to shareholders, equating to about 50% of Jupiter’s market capitalisation. This is very compelling considering Tshipi’s 100-year mine life,” he had noted.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation