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

Tharisa, a chrome and platinum group metals (PGMs) miner, says its operations have performed above expectation during the Covid-19 pandemic, with the group also set to benefit from elevated prices of the metals.

The group said PGM production rose 15.7% quarter on quarter to 40,500 ounces to end-September, when platinum prices rose 20% to $901/oz.

Total PGM production for the year to end-September was up just under 2% at 142,100 ounces, with the group saying it benefited from the open-pit nature of its operations and improved efficiencies.

“Growing the business and increasing production not just on a quarter-on-quarter, but a year-on-year basis despite the challenges of Covid-19, is a tribute to the extraordinary resilience and resourcefulness of all of our employees at Tharisa,” said CEO Phoevos Pouroulis.

Tharisa operates a mine near Brits in North West and has two plants, Voyager and Genesis, to recover chrome and PGMs.

Chrome concentrate production, excluding third parties, was up 15.4% quarter on quarter to 370,800 tonnes and up 4.2% year on year to 1.34-million tonnes, the group said. Chrome prices fell slightly quarter on quarter in dollar terms, while the rand strengthened 6.1% against the dollar quarter on quarter.

gernetzkyk@businesslive.co.za

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