STRONG INTERIMS
Tharisa explores raising output of special chrome
Speciality-grade chrome prices have shot up 44%
Tharisa, a chrome and platinum group metals miner, reported strongly higher interim financial numbers and it is investigating a "substantial" increase of its speciality chrome production, which it sells for a premium to its chrome concentrate. Tharisa reported a 5% increase in chrome concentrate to 636,800 tonnes, putting it squarely on track to meet its 1.3-million tonne full-year forecast. Chrome is used to make stainless steel. Platinum group metals output increased 15% to 69,100oz as the company moved towards 147,000oz of production in 2017. Speciality-grade chrome shot up 44% to 152,500 tonnes. It is used either in foundries as a lining material or in the leather tanning and paint industries. Revenue more than doubled to $175m from $86m and headline earnings leapt to $0.16 per share from $0.01 a year ago. Based on its strong performance and demand for speciality chrome, Tharisa is studying the economics of extracting and processing chrome from its undeveloped UG1 reef at its mi...
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