London, 31 October (Argus) - The manganese ore production and sales of the Tshipi mine in South Africa declined in the first quarter, but the company is still expected to achieve its sales and production guidance targets for the fiscal year 2026.
From July to September, which is the first quarter of the company's fiscal year 2026, Tshipi produced 829,789 tons of manganese ore. The largest shareholder of the mine, Australian Jupiter Mining Company, holds 49.9% of the mine's shares. The company stated that the mine's production decreased by 31.5% compared to the previous year. The sales in the first quarter dropped by 19.3% to 837,577 tons, although this was consistent with the company's historical first-quarter sales, it led the company to maintain its manganese ore sales and production guidance for the fiscal year at 3.4 million tons.
Jupiter stated that in the quarter, driven by strong demand in China, the price of manganese ore strengthened, benefiting Tshipi. Jupiter stated that the company's inventory at major ports was still 140 million tons lower than the five-year average for the same period.
On 30 October, Argus' assessment of the 36-38% manganese ore CIF price for China averaged $3.95 per dry tonne, higher than $3.80 per dry tonne in July.
Jupiter stated that the company is negotiating with automotive and battery manufacturers, with the goal of signing a five-year purchase agreement by the end of the fiscal year.
