Tharisa CEO Phoevos Pouroulis. Picture: RUSSELL ROBERTS
Tharisa CEO Phoevos Pouroulis. Picture: RUSSELL ROBERTS

Chrome and platinum group metals (PGMs) miner Tharisa said on Friday its production levels were stable in the three months to end-December, even as it battled inclement weather and load-shedding.

It said on Friday reef tons mined was up 4.8% from the same quarter in 2018, but 8.4% lower than the previous quarter ended September 2019, as inclement weather affected its open pit operation.

Tharisa, a Cyprus-registered company listed in London and Johannesburg, operates a chrome and platinum group metals mine near Brits.

Rainfall during December was 137% higher than the previously recorded highest rainfall in the five prior years, said Tharisa.

Standby power generating capacity mitigated the affect of Eskom load-shedding on the processing plants, though the increase to “Stage 6” and the resultant electricity curtailment did result in an overall reduction in tons milled, which had a further impact on overall chrome production, Tharisa said.

“A solid operational performance from mining and processing led to a stable quarter despite the adverse impact of weather, and the well-publicised Eskom power shortages,” said CEO Phoevos Pouroulis.

Tharisa’s share price was unchanged at R15.75 on Friday morning.

gernetzkyk@businesslive.co.za

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