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...