ASX-listed Jupiter Mines and its 49.9%-owned subsidiary Tshipi é Ntle Manganese Mining has advised that the Tshipi Borwa mine will be affected by the 21-day lockdown declared by South African President Cyril Ramaphosa on Monday evening.
The company will evaluate the obligations and assess the effect on the business and advise shareholders accordingly in due course.
Meanwhile, in the year ended February 29, the Tshipi mine produced and exported 3.4-million tonnes of manganese.
In the financial year under review, Tshipi’s waste volumes moved were the highest ever recorded but high-grade production remained slightly behind forecast.
Overall, however, the company’s production targets were exceeded as a result of low-grade production that replaced high-grade production in December.
Jupiter further noted that a comprehensive feasibility study into the mine’s expansion was progressing well.
It remained to be seen what the impact of the lockdown in South Africa would be on the feasibility study work activities.
Tshipi é Ntle Manganese Mining recorded a net profit after tax of A$203-million, with A$109-million in cash in the bank at the end of the financial year.
The Tshipi board declared a final dividend of R265-million to be distributed to shareholders.