Business
Jupiter Mines Ltd Update
Jupiter Mines Ltd Update.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9922I Red Rock Resources plc 06 June 2014 \n \n\nRed Rock Resources Plc\n(\"Red Rock\" or the \"Company\")\nJupiter Mines Ltd Update\n6 June 2014\nRed Rock Resources plc (\"Red Rock\" or the \"Company\"), the mining and exploration company with gold interests in Colombia, Ivory Coast, and Kenya is pleased to announce an update on its investment in Jupiter Mines Ltd (\"Jupiter\"), a steel feed company in which Red Rock has a 1.2% holding, as well as a royalty stake over Jupiter's Mt Ida iron-ore project. \n \n2014 Jupiter Mines Ltd Annual Report Highlights\n \n· Net Asset Value per share increased to AUD 21c\n· Significant progress on key projects\n· Tshipi Borwa mine produced 1m tonnes of ore in first full year of operation\n· Production at Tshipi set to increase to 2.4m tonnes per annum \n· Mt. Mason DSO Hematite project optimisation continues\n· Progress in plans for Port Esperance expansion increases likelihood of Mt. Mason going forward\n· Steel Feed Corporation strategy remains intact; value realization in focus\n \nTshipi Kalahari Manganese Projects\n \nJupiter retains a 49.9% interest in two manganese projects in the Kalahari Manganese fields, Tshipi Borwa and Tshipi Bokone. Tshipi Borwa saw production of over 1m tones of manganese ore in its first year of operation and was profitable. Transportation optimisation for its production continues, and completion of the mine itself and all related infrastructure is expected in the current fiscal year. Jupiter expects to produce and ship over 1.7m tonnes of ore in this period. A take or pay offtake agreement with Singapore-based OM Tshipi is now in place to handle all available production for the next two years, with an option to extend past this period. \n \nCentral Yilgarn Iron Projects\n \nThe Central Yilgarn Iron projects consist of two main efforts, the smaller direct shipping ore (DSO) Mount Mason project and the flagship long-life magnetite project, Mount Ida. The focus of the past months has been on the Mt. Mason project, with efforts to reduce capital and operating costs via optimisation and use of ...