Tharisa reports ‘strong’ mining production

JOHANNESBURG – Tharisa Minerals, the JSE and London-listed platinum and chrome producer run by the Pouroulis family, said last week that mining production for the quarter ended March “strong” despite being interrupted by the 21-day national lockdown.

Chief executive Phoevos Pouroulis said the lockdown, which was announced at midnight on March26, had impacted mining.

Despite the lockdown, the company recorded an 11.9percent increase in the stripping ratio and a 1.8percent improvement in Platinum Group Metals (PGM) recovery to 83.7percent in the quarter, and 82.9percent for the six months ended March.

The strong PGM basket price of $1822 (R27690) an ounce for the quarter and $1612 an ounce for the six months, was also a boost for the company.

“The quarter under review showed a strong performance with Tharisa operating at consistent mining and stripping rates, with solid performances from ore processing,” said Pouroulis.

Source: iol.co.za