THARISA, a chrome and platinum miner near Brits, reported increased March quarter output of both metals and has tweaked its chrome plant to produce more high-value product to diversify its markets.Tharisa produced 36,000oz of six elements of platinum group metals (PGMs) in the three months to end-March compared with 24,000oz in the December quarter. On a six-month basis, production climbed to 60,000oz from 57,400oz in the year-earlier period.On an annualised basis, Tharisa achieved steady state production of 144,000oz in the March quarter.Recoveries of metal from ore rose to 68.5% in the quarter compared with 60% in the previous quarter and Tharisa has set a 70% recovery target "in the near term".Tharisa noted the average dollar price for PGMs the company produced slipped to $685/oz, down from $687/oz in the previous quarter and $935/oz in the March quarter last year.The rand’s weakness against the dollar provided some respite. Platinum and gold miners sell their output in dollars a...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.