Tharisa Minerals announces increase in PGM and chrome production
Tharisa reported strong growth in the production of platinum group metals (PGM), which in its fourth quarter grew by 19.7% to 41.300 oz compared to the 34 500 oz in the previous quarter.
Chrome production rose by 2.9% to 407 200 t compared to the 395 700 t produced in the third quarter. Strong quarterly performance was driven by all key metrics trending higher, namely mining, milling, grade and recovery for both commodities.
The company’s phased transition to underground mining, commenced in the west pit and will achieve steady state by FY2029. The east pit portal development is set to reach steady state by FY2033 – ensuring long term sustainability by unlocking the multi-generational resource endowment. The first ore from the new underground operation at the Tharisa mine is expected to be delivered in the second quarter of 2026.
Phoevos Pouroulis, CEO of Tharisa, commented:
“The underground project is the natural progression for our operations and has been established to increase the life-of-mine development to access the multigenerational mineral resource base, enhance operational efficiencies, while maintaining our world class standards of health, safety, environmental stewardship and further enhancing our track record of long-term value creation.
Our proven co-product business model will continue to deliver value as we embark on a modern smart mine, future proofing our ability to unlock long term value through a more efficient, flexible, and lower cost mining model covering multiple generations. Our shallow ore body enables on- reef mechanised development, delivering cleaner ROM and significantly reducing waste, capital intensity, and environmental impact.
The phased approach to portal development enables early access to reef with the bord and pillar design supporting safe, cost-effective ramp up and long-term operational efficiency.”
