Jupiter Mines reports record year, strategic growth, and board changes

Jupiter Mines Limited announced a record-breaking financial year for its Tshipi manganese mine in FY25, achieving outstanding operational and sales results, which led to total dividends of AUD 1.5 cents per share. The mine recorded its highest-ever mining volumes at 15m bank cubic metres (BCMs), processing 3.72m tonnes and exporting 3.6m tonnes of manganese ore. The company's net profit after tax increased to AUD 39.9m, supported by Tshipi's AUD 42.5m profit share and AUD 9.4m in manganese ore marketing fees.

The company's five-year strategy, released in March 2023, is progressing, with Tshipi achieving Level 1 Broad-Based Black Economic Empowerment status. Jupiter also advanced its EV Batteries Strategy, exploring the production of high-purity manganese sulphate monohydrate (HPMSM) from low-grade manganese ore. A significant development was Exxaro Resources' announcement to acquire a 50.1% interest in Tshipi and a 19.99% interest in Jupiter, valued at AUD 0.32 per share, signaling a pathway for consolidation.

Shareholders approved all resolutions at the Annual General Meeting, including the FY25 Remuneration Report with 92.93% in favor. Ian Murray was re-elected as a non-executive director, and Kiho Han was elected as a non-executive director, both with over 93% support. Resolutions for short-term and long-term incentive performance rights for ceo Brad Rogers were also passed with more than 92% approval, along with the renewal of proportional takeover provisions.