Jupiter Mines Limited (ASX:JMS) has released a preliminary final report for the year ended 29 February 2020.
- Sales and production fell to 3.41mt in FY20 from 3.51mt and 3.45mt last year respectively
- Revenue fell 21% to $10.3 million in FY20 compared to $13.1 million in FY19
- Profit for the year was down by 31.1% to $95.1 million from $138 million in FY19
The Government of South Africa mandated lockdown due to COVID-19 including Tshipi mine which led to fall in the supply and increase in magnesium price. All open cast mines will be able to operate from 1 May 2020 at full capacity.
The Board also announced to pay an unfranked final dividend of $0.0075 per share for FY20 on 21 May.