The JSE-listed Tharisa Minerals having completed the acquisition of a controlling stake in Karo Mining Holdings Limited got an opportunity to double the production of platinum group metals (PGM), mining.com said citing Reuters.
Tharisa increased its stake in Karo Mining Holdings Limited from 26.8% to 66.3%, paying US$27 million. Production at the Karo Mining Holdings Limited project will begin in two years, with the first phase yielding 150,000 ounces of PGM concentrate per year split at a ratio of 45% platinum, 42% palladium, 4% rhodium and 9% gold.
Tharisa CEO Phoevos Pouroulis said: “With the challenges and uncertainty to the supply chain of these vital precious metals, a new short-dated source of primarily platinum and palladium metals is a significant risk mitigant for global users and provides security and certainty of supply.”
Vladimir Malakhov, Rough&Polished
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