Tharisa to hold chrome output steady
The chrome and platinum miner is wary increased output will disrupt the supply balance and pull prices down
Tharisa, a chrome and platinum miner near Brits, has no plans to increase output of its speciality chemical and foundry chrome for fear of disrupting their niche markets, and is looking for organic growth and acquisitions, its directors said on Monday.Johannesburg-and London-listed Tharisa will hit its steady state production targets during this, its 2017 financial year, after a solid operational performance in the full year to end-September.Tharisa would generate 147,400oz of four platinum group metals (PGM) and 1.3-million tonnes of chrome, including 300,000 tonnes of specialty chrome concentrate in the current financial year.The PGM figure was based on recoveries of 70% while the circuit was achieving more than 80% during the fourth quarter of the financial year, indicating upside to the PGM target, said CEO Phoevos Pouroulis. About 85% of the specialty chrome was destined for the chemical market. The market was small and niche, meaning Tharisa was wary of increasing output of th...
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