[Ferro-Alloys.com] Jupiter has a 49.9% beneficial interest in Tshipi é Ntle Manganese Mining Proprietary Limited (Tshipi), which operates the Tshipi Manganese Mine in the Kalahari Manganese Field.

Tshipi Highlights

Record production quarter. Sales lower following a strong Q1 sales quarter, in line with expectations for the financial year

Sales of 764,162 tonnes (18% decrease on previous quarter, 10% decrease on prior year corresponding period (“PCP”))

Production of 1,015,633 tonnes (29% increase on previous quarter, 26% increase on PCP)

Cost of production US$2.00 per dmtu FOB (3% increase on previous quarter, 6% decrease on PCP)

Key production, sales and financial information for Tshipi for the quarter ended 31 December 2023 and comparatives are presented below:

Note 1

Tshipi sells most of its ore on a CIF basis.

In the December 2023 quarter, a total of 488,590 tonnes were sold on a CIF basis (64% of all tonnes) and 136,091 tonnes were sold

on an FOB basis (18% of all tonnes). The remaining sales (18% of all tonnes) were executed on a mine gate sales basis.

LOGISTICS AND SALES

South African road volumes remained subdued due to market conditions and the opportunity to increase rail volumes.

Rail volumes during the quarter were impacted by derailments on the Saldanha and Port Elizabeth corridors. Tshipi completed the shipment of its first vessel through East London in October 2023, with further volumes in November and December 2023.

Sales volumes moderated in the quarter. This was mainly a function of timing, with very strong sales volumes seen in the first quarter of the financial year and a stronger sales quarter expected in the third quarter.  Two shipments that were expected to have occurred in December 2023 “rolled into” January 2024, from a timing of activity perspective.

As a result, sales volumes remain on track for the financial year.

Source：Jupiter Mines Limited

• [Editor:tianyawei]