ASX-listed Jupiter Mines’ South African Tshipi é Ntle Manganese Mining company has declared a final dividend of R500-million for the second half of its 2022 financial year, which ends February 28.
With a 49.9% share in Tshipi é Ntle, Jupiter will receive R237-million (A$22-million, net of withholding tax) and R30-million (A$2.8-million) in marketing profits.
Tshipi will have exported 3.34-million tonnes of manganese ore in the 2022 financial year and expects to finish the year with R1-billion (A$92.8-million) in cash, prior to the dividend payment.
Jupiter says Tshipi’s low-cost operation of the Tshipi Borwa manganese mine, in South Africa’s Northern Cape, helped mitigate the challenges throughout the financial year.
Tshipi will retain the remaining cash for working capital and capital expenditure for the upcoming financial year and is currently finalising its 2023 financial year budget.
Meanwhile, Jupiter also reports that Tshipi CFO Carel Malan has resigned, with Tshipi having started a process to recruit a suitable successor.
“Malan has been part of the critical foundation of Tshipi since inception and Jupiter thanks him for his invaluable contribution and dedication to its success,” the company states.