Chrome and platinum group metals (PGMs) miner Tharisa reported strong operational results and a total $0.04 per share dividend for its 2018 financial year. Improved production of both chrome and PGMs offset a decline in the price of metallurgical chrome but benefited from a higher PGM price, resulting in revenue rising to $406m in the year to end-September from $349m in the previous year. Chrome sales make up $250m of revenue and PGMs $117m. Tharisa’s trading arm realised revenue of nearly $39m. Pretax profit fell to $65m from $91m, with the $21m purchase of a mining fleet in the switch to owner-mining from using a contractor weighing on the profit line. Chrome output increased by almost 9% to 1.4-million tons and PGM production rose by 6% to 152,200oz. Tharisa is the fourth-largest producer of South African chrome and the seventh-biggest PGM miner in the country. SA dominates the world’s supply of chrome, producing 55% or 16.6-million tons a year, and is by far the largest source o...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now