Tharisa on track to meet full-year guidance, reports solid Q2 production

JOHANNESBURG (miningweekly.com) – Posting strong production of 34 000 oz of platinum-group metals (PGMs) and 314 000 t of chrome concentrate for the quarter ended March 31, dual-listed Tharisa on Monday said it remained on track for full-year production of 147 000 oz of PGMs and 1.3-million tonnnes of chrome concentrate.

During the quarter, the company mined reef of 1.21-million tonnes, which continues to exceed the required run rate of 4.8-million tonnes a year, on an annualised basis. This was despite mining operations being affected by unusually high seasonal rainfall.

The miner also reported specialty chrome production of 75 000 t. Full-year guidance for specialty chrome has been set at 300 000 t.

“Tharisa is proud to have performed at consistent levels for the fifth consecutive quarter. With substantially increased chrome concentrate prices achieved during the first half of the year – at $338/t, up 35.2% quarter-on-quarter – together with solid operational performance, we continue to deliver on our low-cost, profitable co-product business model,” said Tharisa CEO Phoevos Pouroulis.