LONDON (Alliance News) - Red Rock Resources PLC said Tuesday its investee Jupiter Mines Ltd has received a dividend from Tshipi e Ntle Manganese Mining (Pty) Ltd.
Jupiter - in which Red Rock holds a 1% interest - will receive a ZAR521 million, about GBP29 million, dividend from Tshipi, a South African miner.
"We are pleased to report that Jupiter continues to perform strongly. While this is not the formal announcement of a dividend by Jupiter, Jupiter on relisting in 2018 declared a dividend policy that would mean the distribution of most sums received from Tshipi," said Red Rock Chair Andrew Bell.
He added: "This distribution from Tshipi is a sign of confidence in the prospects of the business. The manganese price continues stable at satisfactory levels."
Shares in Red Rock Resources were up 3.0% Tuesday at 0.70 pence each.
Red Rock Resources (RRR)