Pallinghurst continues to benefit from strong manganese prices
Date05 Jun 2017
Jupiter Mines Ltd (“Jupiter”) has announced a further US$25 million distribution to be made to its shareholders in September 2017. Pallinghurst, as an 18.43% shareholder in Jupiter, expects to receive a further distribution of approximately US$5 million in September 2017.
Jupiter is a 49.9% shareholder of the leading manganese producer, Tshipi é Ntle Manganese Mining (Pty) Ltd (“Tshipi”). The combination of rigorous cost management, positioning Tshipi Borwa in the lowest cost quartile, with the improvement in the manganese price resulted in Tshipi making its maiden distribution of ZAR1 billion in March 2017.