Tharisa cuts dividend by a quarter but presses on with growth
The mining group says long-term fundamentals are still in its favour
26 May 2022 - 09:18
UPDATED 26 May 2022 - 13:38
Chrome and platinum group metals (PGM) miner Tharisa has cut its interim dividend by a quarter, weighed down by higher operational costs and weaker PGM prices, while also warning of tougher times ahead as global growth slows and rates rise.
Like its peers, the miner is facing a cost surge that includes a doubling for freight and explosives, COO Michelle Taylor told Business Day, but the group is still encouraged by buoyant metal prices, and intends to press ahead with expansion plans that could see PGM production double over the next two years...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.