Jupiter on track with five-year strategy
While market conditions and certain geopolitical shifts may influence the short-term outlook for some of its initiatives, ASX-listed Jupiter Mine’s five-year strategy remains solid and well-aligned with its long-term objectives, says MD and CEO Brad Rogers.
He notes that, while the company’s strategy was developed in response to the strategic landscape in March 2023, it remains highly relevant today.
“All elements of our strategy are progressing well, and we have shared some of the non-confidential aspects of this work in [today’s] update,” he states in a January 30 release to shareholders.
Jupiter’s five-year strategy for the period between financial year 2024 and financial year 2028 includes efficiency; growth; environmental, social and corporate governance (ESG); and electric vehicle (EV) batteries, among its main goals.
The company notes that, as one of the beneficiaries of unused rail volumes from smaller, higher-cost miners, the Tshipi manganese mine, in the Northern Cape, actively seeks additional rail capacity on a tactical basis to reduce reliance on road haulage, resulting in lower logistics costs and enhanced operational efficiency.
Tshipi is a subsidiary of Jupiter.
Additionally, the company notes a Transnet Freight Rail sidings/facilities for Upington tender opportunity, with a five-year leasing opportunity for Tshipi, enabling improved access to rail infrastructure.
The company notes that Tshipi is partnering with various stakeholders, through the Manganese Producers Consortium (MPC), to create more manganese export capacity allocation (MECA) rail capacity for South African manganese producers.
The company adds that a project study has been initiated to upgrade axle load from Hotazel to Haakbosleegte, increasing MECA rail capacity through Saldanha Bay.
Jupiter says Tshipi continues to work with road haulage providers to optimise road transport services when rail volumes are exceeded.
Regarding port logistics, Jupiter says Tshipi, in partnership with Tradeport Namibia, is progressing plans for a transshipment project at the Port of Lüderitz.
The company says this initiative will enable larger vessels to be loaded at anchorage, reducing overall freight costs, with a financial proposal currently underway.
Moreover, in financial year 2024, Tshipi expanded its export operations by adding East London to its network, becoming the first manganese producer to export through eight Southern African commercial seaports.
As part of its growth strategy, Jupiter has identified and is progressing discussions for several unique opportunities.
While these opportunities remain commercially sensitive, Jupiter says it is focusing on strategic fit and value creation.
Targets include the South African manganese mining sector; scalable with strong growth potential; stable, predictable, and manageable cost base; balanced and well-supported offtake market; attractive investment returns; well understood with a low-risk operational environment; and low overall investment risk.
Meanwhile, Tshipi continues to deliver manganese ore reliably amid highly volatile market conditions.
ELECTRIC VEHICLES
Jupiter says its EV scoping study is complete. Released in 2024, the company says the outcome demonstrated a strong business case for the continued study to produce high-purity manganese sulphate monohydrate (HPMSM).
Jupiter's advantages include access to readily-available, high-quality manganese ore; strong cashflow to fund project development; and established investor relationships and industry reputation.
Strategic benefits of the HPMSM project include vertical diversification of Jupiter’s current business; optimised use of ore resources; continued commitment to ESG principles; leveraging investor relationships; and supporting investment in a sustainable industry.
Jupiter has also released a market entry scoping study and is advancing a prefeasibility study, with current focus on technical and customer streams.
ESG
Meanwhile, Jupiter says a study has been completed on the potential to valuably implement a more cost and carbon efficient power generation solution at Tshipi.
While the study established a positive business case to implement solar at Tshipi, this will benefit from thoughtful timing of execution.
This is owing to change in three key areas, namely technology improvements, grid reliability and competition.
“A key aspect of our approach is recognising that some elements of the strategy require the right market conditions for execution. For those workstreams, including our EV Battery Strategy, our focus has been on preparing the groundwork to ensure we are well-positioned to act decisively when conditions are optimal.
“This includes advancing study work without committing significant resources, ensuring we are ready to capitalise when market demand and pricing provide the right opportunity.
“I look forward to updating the market as we continue to deliver on our objectives,” says Rogers.
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