Perth-based Jupiter Mines has announced that the Board of Tshipi é Ntle Manganese Mining (Tshipi) has declared a final dividend to its shareholders of R750 million for the second half of the current financial year, ending 28 February 2023 (FY2023). Jupiter will receive its share of this dividend, equating to R356 million (A$29 million; net of withholding tax). Jupiter will also receive R25 million (A$2 million) in marketing profits for the period, in addition to the dividend from Tshipi.
Jupiter Mines main asset is a 49.9% interest in Tshipi é Ntle, a black-empowered manganese mining company that runs the Tshipi Borwa Manganese Mine, in South Africa's Kalahari region.
Jupiter Managing Director Brad Rogers said: “We are very pleased at the size of this dividend, which again underscores the quality of Tshipi’s resource endowment and the capabilities of Tshipi’s management team. Since listing in April 2018, Tshipi’s strong dividend payment performance has enabled Jupiter to pay A$348 million in dividends to its shareholders (not including any final dividend to be paid by Jupiter for FY2023). This is an outstanding achievement, particularly noting Tshipi’s resource life of more than 100 years remaining at current production rates”.
The Board of Directors will consider a final dividend to Jupiter shareholders in due course, along with its full year FY2023 results in line with its statutory reporting timeframe.
