Tharisa: Best quarter on record kicks off a transformative year
Tharisa, the platinum group metals (PGMs) and chrome co-producer has announces production results for the first quarter of FY2022.
First quarter highlights
- Lost Time Injury Frequency Rate (‘LTIFR’) of 0.47 per 200 000 man hours worked
- Quarterly production records set for processing volumes, PGM and chrome concentrate production
- Tonnes milled at 1.43 Mt with a 10.1% increase in PGM rougher feed grade at 1.75 g/t and Cr2O3 ROM grade at 18.1%
- PGM production of 47.7 koz, up 9.2% quarter on quarter (‘QoQ’), at an average PGM basket price of US$2 394/oz (ZAR36 897/oz)
- Chrome production of 401.8 kt, up 1.5% QoQ, at an average metallurgical grade chrome price of US$161/t (ZAR2 471/t)
- Vulcan Plant commissioning progressing well with hot tails feed from the Voyager Plant being processed, first production is expected in the second quarter as planned
- Cash balance of US$79.1 million and a positive net cash position of US$24.4 million
- Guidance for FY2022 is maintained at 165 koz to 175 koz PGMs (6E basis) and 1.75 Mt to 1.85 Mt of chrome concentrates.