Tharisa builds cash pile as it escapes worst of load-shedding
Chrome and platinum group metals (PGM) miner Tharisa says its investments in emergency power generation helped ensure the effects of load-shedding were negligible in its third quarter to end-June, when it grew its net cash 85% to $48m (R821m).
The miner, valued at R6.35bn on the JSE, said in an update on Tuesday that PGM output dipped 4.5% to 42,100oz to end-June relative to the previous three months, while average prices slipped 4.6% to $2,677/oz. However, chrome fared better, driven partly by robust alloy production in China, with production up 3.9% to 389,700oz and average prices up 39.5% to $247/tonne...
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