Ann: Media Release Net Profit $106.4 Million for the Half Year, page-110

Tshipi’s Mn ore output down but sales up
Tshipi’s manganese ore production in the second quarter of fiscal 2019 (ended Aug. 31, 2018) was 870,035 mt vs. 915,011 mt in the first fiscal quarter of 2019, while sales were 950,000 mt vs. 924,255 mt. The average c.i.f. Price for high-grade lumpy was $5.98 per dmtu vs. $7.19.
Jupiter Mines marketing reported sales of 478,741 mt for its 49.9% interest in Tshipi vs. 432,632 mt in the first quarter as the company dipped into its stocks.
Jupiter earned a marketing fee of A$3.5-million in the second quarter vs. A$3-million in the first quarter. It’s average sales price achieved was $6.11 per dmtu c.i.f. In the second fiscal quarter vs. $7.04 in the first quarter.
The company’s marketing branch was able to remit retained earnings of ZAR40-million to Jupiter during the quarter.
Jupiter Mines said that both retail and road volumes continued to perform ahead of budget for its second fiscal quarter of 2019 and rail volumes are running at an annualized rate of 2.1-million mt. Road volumes were lower in line with securing for rail service.
Tshipi’s management’s objective is to ensure compliance with the FY 2019 business plan for both high-grade lumpy and fines volumes on an even basis spread throughout fiscal 2019 and to continue selling additional low-grade material to capitalize on favorable marketing conditions.
Manganese ore sales were ahead of budget during the second quarter of fiscal 2019 with four additional vessels were shipped in the quarter. On an annualized basis, sales continued to exceed the 3.5-million mt target set for the year.
Production of graded ore year-to-date was slightly behind plan but will be made up before the end of the year. The cost of production remained steady.
By alanpatrickryan
On September 27, 2018
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