A CONSORTIUM led by veteran mining investor, Saki Macozoma, has received a huge financial fillip following the listing of Jupiter Mines in Australia because Jupiter’s 50% stake in the Tshipi manganese mine in the Northern Cape province has been valued at R80bn, said the Financial Mail in a report this week.
Macozoma’s consortium, Main Street 744, which also includes a community stake and some foreign investment, owns the other half of Tshipi.
Jupiter Mines listed on the Australian Stock Exchange last week and represented the biggest Australian mining IPO in a decade, said the Financial Mail. Jupiter Mines raised A$240m in the process. The company has forecast a profit of R2bn this year based on a unit cost price for manganese of $4.74 per tonne against current spot of $7.21/t.
