Jupiter Mines Limited Q2 2026 Earnings Recap

Jupiter Mines reported a strong Q2 2026 performance with increased sales and production, maintaining healthy cash levels despite a challenging currency environment.

Key Takeaways

• Sales increased by 4% quarter-on-quarter to 867,619 tonnes, and production rose 1% to 840,688 tonnes, with a notable focus on high-grade ore.
• Operating costs improved slightly to USD 2.24 FOB per dmtu, benefiting from a stable rand despite its strengthening against the dollar.
• Average realized prices for manganese ore were up 6% compared to the previous quarter, supported by favorable market conditions.
• EBITDA decreased 19% quarter-on-quarter primarily due to forex losses from the strengthening rand, although cash generation remained solid.
• Cash balance at Tshipi stood at AUD 137 million, reflecting steady operational performance even after tax and royalty payments.