Last checked at 14 Apr 2020 10:02
Red Rock Resources PLC
("Red Rock" or the "Company")
Restart of Production at Jupiter Mines
14 April 2020
Red Rock Resources Plc, the natural resource development company with interests in gold, manganese and minerals, announces an update on the impact of COVID-19, in relation to its investment in Jupiter Mines Ltd (ASX:JMS).
Jupiter Mines has released today the following statement:
"UPDATE ON TSHIPI OPERATIONS AND SOUTH AFRICA LOCKDOWN
Jupiter Mines Limited ("Jupiter") (ASX:JMS) reports that the South African Government has extended the country's lockdown until the end of April.
After applying to the Department of Mineral Resources, Tshipi é Ntle Manganese Mining (Pty) Limited ("Tshipi") has been granted approval to partially restart operations at the Tshipi Borwa Manganese Mine from 14 April.
Tshipi management is currently working with contractors, suppliers and Transnet to coordinate the partial recommencement of production and exports. The health and safety of all parties remains of the utmost importance during this time.
Jupiter will update the market when further guidance is available."
Red Rock Chairman Andrew Bell comments: "South Africa announced a shutdown for 21 days starting at midnight on 26th March. This shutdown has now been extended to the end of April.
The open pit operation at Tshipi is an important supplier of metallurgical grade manganese to international markets and the global steel industry is significantly dependent on South African manganese supplies. That Tshipi has been permitted after so short a time to recommence operations and export is an encouraging development."
Red Rock has 17.02m shares in Jupiter Mines, the price of which closed at AUD 0.255 per share today, valuing the Company's holding at AUD 4.34m (£2.21m).
For further information, please contact:
Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc
Scott Kaintz 0207 747 9990 Director Red Rock Resources Plc
Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Mark Treharnel 0203 700 2500 Broker Pello Capital Limited