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 articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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