Exxaro Becomes Major Jupiter Mines Shareholder and Tshipi JV Partner

The latest announcement is out from Jupiter Mines Limited ( (AU:JMS) ).

Jupiter Mines Limited has confirmed that Exxaro Resources has completed the acquisition of a 50.1% interest in the Tshipi Manganese Mine and a 19.99% shareholding in Jupiter, buying Jupiter shares from Ntsimbintle Holdings at ZAR 3.69 per share. Jupiter will retain its 49.9% stake in Tshipi, maintain joint control over operations, and keep its pro rata marketing rights, as the existing shareholders’ agreement remains unchanged.

Exxaro, one of South Africa’s largest diversified resources groups, becomes a major Jupiter shareholder and new joint venture partner at Tshipi, but has indicated it does not currently seek board representation. Jupiter’s chair welcomed Exxaro’s operational and logistics expertise, saying the partnership strengthens Jupiter’s growth platform and supports its strategy to enhance value and consolidate its position in the Kalahari Manganese Field, while acknowledging the longstanding contribution of former partners Ntsimbintle Holdings and OM Holdings.

The most recent analyst rating on (AU:JMS) stock is a Buy with a A$0.34 price target. To see the full list of analyst forecasts on Jupiter Mines Limited stock, see the AU:JMS Stock Forecast page.

More about Jupiter Mines Limited

Jupiter Mines Limited is an Australian-listed mining company focused on manganese, primarily through its 49.9% stake in the Tshipi Manganese Mine in South Africa. The company’s strategy is centred on consolidating and creating value across the Kalahari Manganese Field, leveraging joint ventures and marketing rights to maintain a strong position in the global manganese ore market.

YTD Price Performance: 9.09%

Average Trading Volume: 2,173,387

Technical Sentiment Signal: Buy

Current Market Cap: A$589.8M

See more data about JMS stock on TipRanks’ Stock Analysis page.