Tshipi sells 3.5mln tonnes manganese ore in FY2019

South African manganese miner Tshipi exceeded targets to sell a record 3.5 million tonnes of manganese ore in the 12 months to February 28, owner Jupiter Mines said on Thursday March 28.

The company produced 3.45 million tonnes of manganese ore, compared with 3.34 million tonnes in 2018. The total value of the company’s manganese ore sales reached R10.5 billion ($715.8 million), while net profit after tax came in at A$379 million ($268.3 million), Jupiter said. Tshipi’s record sales volume was partly due to sales of lower grade ore, which form part of the company’s strategy to move off-grade material when pricing conditions are favorable, chief executive officer Priyank Thapliyal told investors and media on a conference call on Thursday. “In this financial year 2019 we produced and sold 3.5 million tonnes. That is a record for Tshipi production, against a target of 3...

Published

Janie Davies

March 28, 2019

16:15 GMT

London