Tharisa secures selling agreement with Chinese company
CEO Phoevos Pouroulis says the agreement further cements its position in the Chinese market and underpins its order book
Chrome and platinum miner Tharisa secured an offtake agreement for a quarter of its annual chrome concentrate output for the next five years with one of its main Chinese customers.Tharisa, which is listed in SA and London, struck the agreement with Shanxi Taigang Wanbang Furnace Charge, a Taiyuan Iron & Steel Company (Tisco) joint venture, to supply it with 240,000 tonnes of metallurgical-grade chrome concentrate annually from September 2017."The co-operation agreement further cements our position in the Chinese market and underpins our order book. It is also encouraging to note that spot chrome prices have increased above $200/tonne on the back of improved stainless steel production," said Tharisa CEO Phoevos Pouroulis.Tisco has a 700,000 tonnes a year ferrochrome plant that generates 300,000 tonnes a year of ferrochrome, the material that goes into the production of stainless steel. Tisco is planning an expansion of the ferrochrome plant to add 50% more ferrochrome to its producti...
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