Tharisa’s platinum group metal (PGM) production increased by 4.5% to 36 900 ounces (oz) in the third quarter of the fiscal year 2024, compared to 35 300 oz in the second quarter.
It produced 107,900 oz of PGM in the nine months ended June 30, 2024, compared to 114,000 oz a year earlier.
Tharisa also said that its quarterly chrome production rose 1.9% to 410 200 tonnes from the second quarter’s 402 700 tonnes.
“Operationally we delivered as planned, with improved mining and plant recoveries resulting in overall PGM and chrome concentrate production increases,” said Tharisa chief executive Phoevos Pouroulis. “The focus on sustainable mining and the structural improvements achieved in this year to date positions us for a strong last quarter, with further improvements in the mining performance, providing the sustainable foundation for the medium to long term plans for the mine.”
Tharisa said its production guidance for FY2024 remains between 145 000 oz and 155 000 oz PGMs (6E basis) and 1.7 million tonnes to 1.8 million tonnes of chrome concentrates.
The company’s principal asset Tharisa Mine is located in the south-western limb of the Bushveld Complex, South Africa.
Meanwhile, the company said the PGM basket price was steady at $1 391 per oz (6E basis) in the third quarter of FY 2024 compared to the preceding quarter’s $1 343 per oz. It also witnessed continued strong average metallurgical grade chrome concentrate prices, which jumped 8% to $309 per tonne in the third quarter of FY 2024 from $286 per tonne in the second quarter of FY 2024.
It is also developing the Karo Platinum Project, a low-cost, open-pit PGM asset located on the Great Dyke in Zimbabwe.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
