Tshipi declares R1.1-billion final dividend

As such, Jupiter will receive R521.5-million in addition to R30.6-million in marketing profits.

Throughout the uncertainty caused by the Covid-19 pandemic, mining challenges, excessive rain and depressed manganese prices, Tshipi has demonstrated its ability to continue to remain profitable and cash positive, Jupiter stated in a press release issued on February 18.

Tshipi will end the 2021 financial year, post the dividend payment, with about R657-million cash at bank.

The company has distributed R9.26-billion to its shareholders over the past five years against the mine’s construction costs of about R2-billion.

Tshipi’s board will consider the dividend to Jupiter shareholders along with its full-year results, and will make any final dividend declaration for the 2021 financial year in line with the reporting timeframe.

Meanwhile, the company notes that it is yet to make a decision regarding the expansion study of the Tshipi Borwa mine, in light of further areas of the study to be explored.