Platinum groups metals (PGMs) miner Tharisa’s core earnings rose by 243.1% to $124.2-million for the six months ended March 31 due to strong prices.
The company’s revenue also jumped 61.2% to $313.6-million, while its operating profit increased by 368.6% to $104.5-million.
“All our major commodities, namely PGMs' and chrome’s basket prices rose, as the world economy started to recover post the impact of the Covid-19 pandemic,” said company chief executive Phoevos Pouroulis.
Meanwhile, Tharisa said its PGMs production rose by 12.9%, to 75 100 oz; while the volume of reef mined increased by 8.7% to 2.5-million tonnes.
Chrome concentrate output rose by 12% to 730 700 t.
The company’s full-year guidance was maintained at between 155 000 oz and 165 000 oz of PGMs, while its chrome concentrate production was estimated at between 1.45-million and 1.55-million tonnes.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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